The corrections during the current rise from 5941 have been of 20 to 25 points so far.
We spotted an intraday rise from 6019 to 6069 as a 5-wave.
Watch its retracement: Weak below 6044 (more than 25 & 50%).
Below "6029", it would lead to larger retracement for the entire rise of 5941 to 6069 (or a reversal).
Hour being "OB", a 5-wave completion paves the way for correction.
The week's "Sell on rise" hovers in the background with its "6007".
Only a bearish close below DHEma & a close below WHEma could effect a reversal failing which this upmove would continue with partial retracements (higher highs & higher lows).
=======================================================
Stop using this space for "calls". If you have nothing worthwhile to contribute, stay silent.
Use this space for "clearing your doubts" but not to confirm your trades.
Start being bold; Boldness has genius.
No one knows what the market will do next; but a sensible person(one who follows his chosen study diligently) would know from market's behaviour what the market is likely to do 75% of the time.
We should trade boldly those probabilities and leave the prediction to Nostradamus (plenty around).
If you have the "Itch to predict", there are many "forums", you'll be lapped up, treated royally, statues erected for you, streets named after you, daughters married off to you, kingdom bestowed on you.
Here...you'll be ignored...
========================================================
We spotted an intraday rise from 6019 to 6069 as a 5-wave.
Watch its retracement: Weak below 6044 (more than 25 & 50%).
Below "6029", it would lead to larger retracement for the entire rise of 5941 to 6069 (or a reversal).
Hour being "OB", a 5-wave completion paves the way for correction.
The week's "Sell on rise" hovers in the background with its "6007".
Only a bearish close below DHEma & a close below WHEma could effect a reversal failing which this upmove would continue with partial retracements (higher highs & higher lows).
=======================================================
Stop using this space for "calls". If you have nothing worthwhile to contribute, stay silent.
Use this space for "clearing your doubts" but not to confirm your trades.
Start being bold; Boldness has genius.
No one knows what the market will do next; but a sensible person(one who follows his chosen study diligently) would know from market's behaviour what the market is likely to do 75% of the time.
We should trade boldly those probabilities and leave the prediction to Nostradamus (plenty around).
If you have the "Itch to predict", there are many "forums", you'll be lapped up, treated royally, statues erected for you, streets named after you, daughters married off to you, kingdom bestowed on you.
Here...you'll be ignored...
========================================================
38 comments:
Good Morning Sir & All Friends.
Good Morning, Ilango Ji
Good Morning sir
Very good morning ilango sir & bala sir and blog friends.
Namaste Ilango sir and fellow bloggers
LV
Namaste Ilango Sir,
That was very precise, as the adage goes, "Trend is your Friend" and "Predict and Perish"
Thanks & Regards
GOOD MORNING MASTER ILANGO SIR.
THANKS FOR POSTING THE MOST IMPORTANT ORDER' STOP USEING THIS SPACE FOR CALLS
AGAIN THANKS.
Nice and to the point Sir.
Just noticed 6043 and 6029 are the s3 and s4 in camarilla. Fibonacci is very nicely merging with Camarila and Elliot for today.
Good morning Ilango sir & all blogmates
Rgds
Saravanan
gm sir, seniors and freinds
Sir
your lesson of following price is invaluable to a trader. Not only does it show what is to be done, it also shows in a simple way, what is to be done. No sacrosanct levels but if market makes or breaks certain levels then it tells the direction.
thanks
Namaste Dear Sir and all friends
all the best for a successful trading day
Good Morning Master & Friends
@master
as per JNSAR trade table you don't have any trade live, right?
thanks.
Good Morning Ilango Sir and Seniors
ATR Based Trading Signals
Buy Zone : From 6029.6 to 6016.1
Breakdown below : 6013.4
Breakdown target : 5968
Sell Zone : From 6083.6 to 6097.1
Breakout above : 6099.8
Breakout target : 6130
Good Morning Sir,
Thank you for being there..seeing the 5's & 3's helping.
Good morning master & JN famiy
Have a nice day !
Parimalji,
I hv seen ur msg of TCS of yesterday.
Any view for TCS/Wipro pl.
Thanks.
GoodMorning Sir and All...
Have a nice day!
Good Morning Ilango Sir and Seniors..
Wipro: this stock is at a significant level. Golden Cross on day chart: 50SMA crossing 200SMA. 5th may get extended. correction, if any, will do good.
Thanks Parimalji,
What about TCS?
Namaskaaram GuruJi and Friends,
Good Morning.
Have a Good Day.
Pranams
Kumar
Good morning Illango Sir
TCS:
R1: 1382
PV: 1354
S1: 1309
S2: 1281
these numbers speak very well. having PATIENCE is worthwhile.
ORB broken on downside?(nf)
Namasthe ilango sir and friends,
Today's quote received :
Positive thinking is the key to success in all things. Do not neglect your mind, body, or spirit. Invest time and energy in all of them equally – it will be the best investment you ever make, not just for your life but for whatever is to follow.
Sir ILango ji and every one good morning
Master ilango and friends,
good morning to all
regards
NF hourly chart: Small negative divergence is seen on Stochastic and 9hrRSI.
"6038"-61.8% of 6019 to 6069.
Parimal,
Can you through some light on Hindalco chart please?
Hovering around pivot,,,
New Post Done.
sir
A classic eg of how fib 61.8 works to confirm a 5wave impulse retracement. it tells us of more upside before downside possible.that is ABC over.
Alt if it breaks then A over B in progress and C pending or a new impulse down has started and we could have a deeper correction making it a critical level for bull bear divide.
R/Ilango Sir Namaste n Namaskaar 2 all reader's.
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