If it is the "iv"th wave, it is done @ 5958(It was pointed out that a simple zigzag may have been done @ 5958 with a=c) or could form a triangle, keeping below 6015 and ends its correction above 5931(i st wave) around 5950 and move higher.
If it is the (2)nd wave, it could be anything...shallow done already or deeper towards 20SMA-5927++.
FII data and low VIX readings, so far, suggests of this fall as correction only.
6000CE & PE are wobbly at present; 5900PE is firm; 6100CE & 6200CE are growing very firm.
"Not Closing below JNSAR @ 5970 keeps its trend UP".
If it is the (2)nd wave, it could be anything...shallow done already or deeper towards 20SMA-5927++.
FII data and low VIX readings, so far, suggests of this fall as correction only.
6000CE & PE are wobbly at present; 5900PE is firm; 6100CE & 6200CE are growing very firm.
"Not Closing below JNSAR @ 5970 keeps its trend UP".
29 comments:
Very happy good morning ilango sir& friends.
Namaskaaram GuruJi and Friends,
Good Morning.
Have a Good Day.
Pranams
Kumar
gm master
Jesse Livermore:-
"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."
I like to read every time before I trade. Good Morning.
Good morning all and nice quote Amol Sharma.
sir what is sl for short & above which level to go long ??? 5979+20 = 5999 above long ???
Namaste Dear Master and all friends
Wish you all the best of a successful trading day
Good Morning Sir & All Friends.
Good morning master & JN family
Have a nice day !
Good morning All,
Observations on some Index stocks
1. Tata steel nearing important supports
50% of last rise 415.5
200 Day EMA at 415
34 Day EMA at 416
2. ITC nearing important supports
Price is at 21 Week EMA and 89 day EMA @ 280.
Oversold 9Day RSI.
9 Week RSI at Midpoint
34 Week EMA @ 270.
If price goes lower, it will set up positive divergence.
3. Larsen & Toubro
Price moving to very important supports
50% of last rise @ 1514.5
Fall from 1720 is overlapping, considering a Complex zig zag price equality @1516.5
200 Day EMA at 1501
34 Week EMA at 1525
1470 to 1530 has been acted as a support and resistance many times in last 5 years.
Both 9 Day RSI and 14 Day RSI is approaching oversold levels
Raghavendra
ATR Based Trading Signals
Buy Zone : From 5946.5 to 5934
Breakdown below : 5931.5
Breakdown target : 5923.8
Sell Zone : From 5996.5 to 6009
Breakout above : 6011.5
Breakout target : 6073.8
Master ilango and friends
Good morning to all
Regards
Goodmorning Sir n JNfamily,
gm sir ,seniors and dear freinds
Good Morning Sir, and all the Gems of JN
wish you all the best
regds
Good Morning Master and JN Family :)
Good Morning Sir and dear blog-mates.
ORB broken on down side.
Lets see if it breaks today's JNSAR.
Good Morning Ilango Sir and Seniors
Hi Raghavendra
Please give technical views on Financial Technologies
thanks
Hitendra
Wipro: 21hrsma is crossing positively 34hrsma
@ llango sir
Good morning
sir, today we are in short in nifty at Jnsar 5979
There is two cases to hold or reverse the trade.
case 1- we should go long above 5979+20=5999with 5979 as so. Is it right?
If we follow case 1 then now we should be long as market touched the high of 6005.
Am I right sir?
Case 2- we coincide today Jnsar (including filter) with ATR breakout point 6012 & conservative pre market view (go long above 6010)
so sir we should wait for 6012 to avoid any whipshaw.
Sir which case is to be prefeered ?
Hi Varun
we should prefer the second scenario in the current circumstances
Regards
@ varun kumar,
Once prices have closed below DHEma during uptrend, it enters into a corrective mode or reversal possibility.
Best option for "a trader who is interested in making money and not prove any method's mettle" is to "trade the Supports and Resistances".
For a person who trades for positional, EOD prices matter a lot and "intra swings must be managed with Supports and Resistances".
Thanku very much sir
One possibility ...
5969-6005 61.8% comes to 5983...
i 5958-5979
ii 5979-5969
iii 5969-6005
iv 6005-5985
v in play
If this is a valid count , will go above 6005 as v and then this upmove will be retraced ...
to keep in mind
wave i top at 5979 and 5969-6005 80% 5975
Good Morning Master and copy to All
Good morning Ilango Sir and blogmates
About few months earlier somebody in detail had mentioned a formula of ATR Trading strategy.It has got deleted from my pc.
Can anyone repeat.
@Mr.Illango,
Tks for yr explanation of diff. between JNSAR and "Conservative Trade".
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