Namaste Ilango Sir & all members.
jai hind master, dr ji , julius ji n all
Goodmorning master,How do we arrive @5801 for the expected Lows ?
Manish ..5801 just the 38% retrace ( 5594-5928)
@ Manish,5801 is the 38% retracement for the 3rd wave rise from 5594 to 5928.Another critical number would be month pivot @ 5771 which is closer to 50% retrace.Hence, holding 5771-5801 is reqd for the next upmove.
Ilango sir nifty come 50dma 5699 if possible
After a long time Nifty trading consistently 50 points below its nearest top.
Thanks master.Noted and stamped.
The markets did not move at all for the 3 last trading days because of the FDI issue. It was quite rangebound and we can say it is a contraction and is expected to move up or move down with the news behind us.Watch for 5850 .Nifty faces a stiff resistance around 5900. Further, it need to go above 5950 for further upside for a target 6015 -6050-6100.Range 5900-5950 is important for the bulls.My MACD indicator and RSI indicator have turned down. Unless, it turns up today, i will be cautious.Now , Hour trend has turned down but Day and Week are intact.Buy MINDTREE ( around 680) and Venkey ( around 478) if 5850 holds.
Dear Ilango Sir & Blogmates,OI Table Update at 11:00AM, VAH:5952, POC-5944, VAL-5936, WVAH:5907, Pivot:5942, S3:5895, VWAP:5898The CE writers have wrested back control of 5900 level, with huge addition of 8 lacs till now, seems like correction to the up-move is on….Thanks & Regards
Master, nifty is also continuously trading below WEEKLY open.regards
OBSERVATIONS & OPINIONMarket may have trigger of 1 hour range SLONow bottom SLO is best risk return trade.
I think 4th wave has limit up to 5937 bcz wave 1st has 90 point move so 5927-90=5937 and 3rd is extended so 5th is now normal =wave1 so the Tgt is 5927 is logically.
Sir ILango ji any specific reason for taking 5594 as low and how much increase in OI is needed in making 5900 level as resistance thnx
5594 is end of Wave 2, for Wave 4 tgt, you take the retracements of W3-W2; mostly ending at 38.2% retracements
Today important locations 5 D LEMA & 5 H.LEA.Market makes last tailed shaped bearish candleat 9.39 AM which makes 16 inside candles.Finallymakes new bottom with bullish hammer vol 347000Next candle c/o top and now c/o of 5869 makeshourly Bar Reversal.If so MKT.to bounce.
Dear Ilango Sir, is Nifty spot forming an Expanding Triangle Pattern on 60 min chart?
Namaste Ilango sir and all, Sir please clarify:1. The current downmove is the 4th subwave of 3rd which can be 38.2%, 50% or 61.8% of the 3rd wave-5594-5928 -so supports at 5801, 5761 and 5721 respctively. and another swiftupmove is pending for the 5thsubwave.2 Only after the last possible support i.e at 61.8% is broken it can be considered that the 3rd has ended at 5928 and the corrective 4th has started which would be more prolonged?
New Post Done.
sir you sd once that for Stocks we can take 5ema as SAR so my question is what should be the filtered stop loss
INDIA VIX down nearly 5% with fall in niftygenerally with this type of fall VIX tend to riseany indication???????????????