@Mr.Piyush,1hr Candle may be a Fakey Bar. If formed successfully spot 5851-5856 SELL signal.
Corrections have been 26 to 49 points.From the high of 5899, it would be 5899-26=5873...Done.5899-49=5850... more weakness below this.
Namaste Ilango Sir & all members.
sir ji,how is 26 & 49 points arrived @
Crossing 5873, strength remain back right sir?
Dines ji,good morning sirSir u must have bought bank nifty at 11810Right☺☺☺☺
Spot below 5873 just trading near 5871/72... Indicates weakness further till 5850?
jai hind master rishi ji , julius sir n all
@ rajapvt,Channel support is around 5852-57.
sir ji,please if u could answer my querrythanks
Okay, thank you sir
nifty support levels 5880-5852-5810.I will prefer only buying on these supports.regds
Sir, from your experience, can you share your view? Does this correction go back to 5899 and then to 5850 or from 5873 to 5850 range? How does the market behaves most of the times?
Morning Ilango ji & JN Familyhave a gr8 day ahead :-)rgds
Good Morning Master : Is it too early to make this statement that today the fall is not getting bought like last Friday..thanking you
@ suresh,Read my comments on Friday.
@ Atharva,30th Pre-Mkt view: Considering the "Just-turning-up-week TA", more upsides possible. However, there will be corrections along the way which would be opportunities to buy into.Corrections during this up move from 5548:1st: 5638 to 5608=30 points (a of 2nd)2nd: 5643 to 5594=49 points (c of 2nd)3rd: 5649 to 5623=26 points (sub-wave of 2)4th: 5711 to 5698=13 points (minute wave of sub-wave of 3)5th: 5803 to 5789=14 points (minute wave of sub-wave of 3)What is being left now is sub-wave-4 correction; wave-4 correction; Accordingly you can plan your re-entries as well as holding onto your positions. I'll update these waves as it appears in the coming hours/days. See the weekly chart(Line chart in "JustNifty TA file" ) for alt. EW, other than the "label in EOD post's Lead indicator chart".Understanding the depth of corrections would reveal, in combination with other technical studies as well as TT colour changes, when a reversal is being attempted.=======================================Add to it: Whenever a retracement gets resisted "Below 80%" of a fall, a larger correction is underway.
Master : Got it thanking you once again
@Mr.Sandeep,Good Morning - Have a Nice day - Jai Hind.
yes julius.but going strictly by 2b definition in hour charts i feel this is the first move . there will be a 5-8 candles dip then a false breakout can qualify 2b. there has been no dip except intra dips
sir ji,sorry, i could not grasp the concept
ilango ji,5899-5862 a 5fifer A ?
@Mr.Piyush,You are right.As per price action strategy rules Fakey bar is the name for 4 type of false break. 1 is 2B. Just for observation. :)
Unless Nifty spot closes above 5880 now, there is high probability of a rounding top formation on the daily charts.Excellent high reward low risk shorting opportunity here?Master may throw some more light please.
Dear Ilango Sir & Blogmates,OI Table Update at 11:00AM, VAH:5923, POC-5907, VAL-5891, WVAH:5907, Pivot:5901, VWAP:5912The PE writers have taken the day off, but fortification seen at 5800PE level, whereas the CE writers are adding from 5900 level onwards with highest addition at 6100, A neutral day in the making….Thanks & Regards
11.00AM TT & Chart updated.
@Mr.Piyush,2 Mins Charthttp://www.mediafire.com/?yw984cfi3xeoeyy
tks ilango ji :-)
@julius2b is clear in the chart. thanx. one of my commentto u has gone to spam i think. if sir cud pls check.
Topping out pattern forming on daily charts of Nifty spot after hitting intermediate uptrending line at 5900. A close above 5880 negates this view.Excellent opportunity for shorting Nifty maybe in the offing with stop loss of DH and targets close to developing JNSAR.
New Post Done.