Thursday, December 27, 2012

Nifty Intraday Update-II


32 comments:

Billgates said...

Ilango,
what about negative divergences on daily and weekly charts.This is first time i am seeing negative divergences not acting or may be tommorow they may show effect.
What will be negation point for weekly negative divergence shown in your TA file.

Ilango said...

@ Billgates,

Negative divergences come into play "only when prices close below 5Ema/Sma of that T/F".

Only aggressive players would sell closer to the highs with a SL above the high.

Market could move either way:

Scenario A: Market does a lower high @ 5930 - 5955 and reverses with a close below critical averages.

Scenario B: Market holds 5855-75 zone and breaks past 5925 towards 6000-6150 and then commences the fall.

For the moment, (5855)5875 and 5925(5955) are the two critical points.

Ostrichtrader said...

Sir, Triangles usually decide which way to go 1/3 from the apex....at that junction for desc. triangle to be bullish buyers have to enter in volume...here its not the case

rajapvt said...

Ilango: For scenario A, do we have any time frame?

Kumar said...

Master, India VIX is 13.7 - Year low. As you suggested if we hold 5855 then there is the chance to see the 6000 in this year. But the VIX is going down means then the market should be Sideways. Hence it is difficult to touch the HIGH in the same way the market wont go DOWN. Hope tomorrow we will get the CLEAR picture.

Ilango said...

@ Ostrichtrader,

Volume will be lowest in the last fall - "e" wave - currently on.

Whenever it finds a bottom & reverses, look for volume signal.

If bullish, "e" shouldn't fall beyond 5855 ideally, though the bottom break would be around 5839.

Ilango said...

@ rajapvt,

For Scenario A, the "resisting should happen by tomorrow if not done already" and "the break down should happen by Monday or Tuesday".

SAM said...

Dear Sir ,

One more childish question ..
what exactly you look for when prices are near mid channel trend line ...

Ostrichtrader said...

5890 nf will be the deciding point....though at this moment 5900 gap support proving to be a good one

Ilango said...

Almost @ Day Pivot- 5894.(A 3 wave structure gets completed here)

Weak below this towards 21 & 34 Hr smas @ 5879-86.(A likely 5 wave move)

Ostrichtrader said...

tx.sir......I am oblivious to wave structure......went way over me....but thanks anyways

Ostrichtrader said...

However your levels do match my studies....strange

ITradeForProfit Daily said...

@Master,

Prices about to close below all hourly figures. Is it time to open short positions?

Ilango said...

@ SAM,

When "overbought prices" start to reverse, the upper line of mid channel break confirms a weakness to move towards the lower line of mid channel and if persists further down.

Similarly, when prices are "oversold" and start to rise, the lower line of mid channel offers first the resistance as it did at today's open. If prices consolidate and move higher to break past the lower line of mid channel, it would indicate strength to take it higher towards the upper line of mid channel.

Channels are nothing but the "demand-supply Line".

Ostrichtrader said...

At 5909 nf.....a bullish ww will start working to target the diagonal till 5930.......with 5900 as tested support ww validated

SAM said...

Thanks Master ... Noted in my trading diary ..

ITradeForProfit Daily said...

@Master,

Haven't the prices closed below all the hourly figures at 13:00 ???

shivanGupta said...

sir,

if we fill current hour price in excel sheet then 9rsi show big fall from 74 to 30 what does this indicate

STOCK4SURE said...

why such a large addition in O.I in 6000ce at .10-.20 range
is it buying

prakashbkc said...

ITradeForProfit Daily ,

Master says,
When you get a "Buy signal" with a close above all or almost all nos in Hour TT when the technicals are "Oversold", the risk-reward is favourable.

Here technicals r not overbought so risk reward is not favourable.

STOCK4SURE said...

a small bullish WW developing in BN charts
buy BN in 12440-450 range
trgts 12485 near 3.00pm
cmp12456

Ilango said...

@ ITradeForProfit Daily,

Trade with Supports and Resistances

Nifty resisted @ Pre-Mkt's 5926-39 zone @ 5931.

Nifty closer to 21 & 34 Hr smas now.

Ilango said...

@ shivanGupta,

It is exactly the reverse position of yesterday's 10.00AM action.

If Nifty sustains below 5894 and breaks below 5879, it would be weak.

STOCK4SURE said...

AS PER ASTRO TIME TO WATCH
1.40pm-3.00pm

prakashbkc said...

Sorry, Master

I commented in midway

Ilango said...

Pulled back to "JNSAR".

Parimal said...

Real taste of an Expiry day indeed !! to eat up premiums.

Debdeep said...

If no new low is made then 38.2% retracement done of yesterday rise.

STOCK4SURE said...

Bn trgts done
speed was totally unexpected

Ostrichtrader said...

Do not buy before 5908 nf..........landmines ahead........kaboom!!!!!!!!!!!

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