Wednesday, December 5, 2012

Nifty Intraday Update-III


20 comments:

Hitendra said...

Is the 3rd complete as shown above? What would be the target for 4th wave?

Ilango said...

@ Hitendra,

It may not be complete as the "swift reversal" is missing.

It could be part of the last wave of the 3rd.

A similar pattern occurred @ 5623 and then there was a gap up.

Nilesh Patil said...

@Sujatha sis,
that means all are on fast today.. (bull and bears bothe)

amber said...

Sir ILango ji what is the best way to analyse volumes in intraday without a professinal software
thnx

Ilango said...

@ amber,

There are few simple principles:

Prices moving higher with volume is bullish & vice versa;

Prices moving lower with volume is bearish & vice versa;

Besides these:

A break-out from a consolidating range with volume adds credence to the break-out.

Similarly a break-down from a consolidating range with volume adds credence to the break-down.

Price is supreme; but volume gives the conviction that big players are participating and hence the prices would sustain.

Ilango said...

For eg:

BEML, MAX moved up with high volume today.

Infy moved down with high volume.

Ilango said...

BN moving past "the filtered 80%-12307" now.

Sujatha said...

Nilesh ji - mm.. quarter moon on the way.. donno this one will hv "a quarter" and come or without having "quarter"??? :(

Bye for the day

CDG said...

@Ilango,
Today the R2 has played well and resisted the rise...

Ilango said...

3.00PM TT & Chart updated.

suresh said...

can v consider buying 6300ce today @ 7.00

Prabhanshu said...

Sir, on hour basis, 5897 NS is not yet broken. So are we still on the same plan?

CDG said...

What is the closing avg. is it above or below tomorrow's PIVOT 5903 ??????

CDG said...

Thanks Cooldent. so it means we are closing below tomorrow's pivot and also below hourly EMA

Ilango said...

@ Prabhanshu,

It is "evenly poised".

"5864"-34 Hr sma is the support in case of a break down.

If gaps up, it could target 5945 & higher.

amber said...

Sir thnx very much

CDG said...

bullish undertone at the verry last minute

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