A break-out done; a minor pull back done.
Only a firm move past 5977 or 6014 could be construed as the next impulsive move, considering the overbought nature of week & month.
However, the ST day & hour are yet to get into overbought zone. Today's price action-whether impulsive or muted and tomorrow's too would have more clues.
The prudent way to deal with it is to aggressively look for divergences or conservatively trail the prices.
Only a firm move past 5977 or 6014 could be construed as the next impulsive move, considering the overbought nature of week & month.
However, the ST day & hour are yet to get into overbought zone. Today's price action-whether impulsive or muted and tomorrow's too would have more clues.
The prudent way to deal with it is to aggressively look for divergences or conservatively trail the prices.
39 comments:
@master
good morning.
as overbought can remain overbought for long, if you remember i had add yearly data in TT and it was suggested nifty trading above 5yearHEMA. can yearly bullishmess with momentum keep monthly weekly in overbought zone for longer?
or that is no need of such a high time frame at all?
thanks.
good morning
can anyone tell me which Real time free data provider for amibroker since my datafeeder is unable to backfill since yesturday. is anyone facing the same problem
thanks
Good Morning
Ravi
sir
approx target of the consolidation between 5823 to 5965 comes around 6062.
gm master & prentice
Namaste Dear Master and all friends
All the best for a successful trading session.
Good morning Ilango sir & all blogmates,
Rgds
Saravanan
Master ilango and friends,
good morning to all
Regards
ATR Based Trading Signals
Buy Zone : From 5924.35 to 5911.1
Breakdown below : 5908.45
Breakdown target : 5903.1
Sell Zone : From 5977.35 to 5990.6
Breakout above : 5993.25
Breakout target : 6062.1
Good Morning Ilango Sir and Seniors
Good Morning Sir,and all the Gems of JN
wish you all happy profitable trading day
regds
Namaste Ilango Sir and fellow bloggers
LV
Good Morning Master & Friends
Good Morning Master and Friends
OBSERVATION & OPINION :
1st candle Bullish Belt Hold lines:
FNO=O=6007.H=6045.L6007.C=6037.VOL=621000
In direction of trend stronly bullish.
GM Everybody,
Dear Nilesh Deshpande,
It looks Bulls know the importance of your ATR "Breakout above : 5993.25" :)
Today's initial cash HVT @ 5992.70 & 5992.55
@Mynac: Bulls did it now...
Good Morning Sir & All Friends.
Tradable 38.2%,50%61.8%
SLO 80%
Normally storng BO candales correcton should not
be visible.Should not loose more than 50% gain.
@Mynac: Can we go for another 50 points upmove from here???
gm wonderful sir,freinds and seniors fiscal bill passed in usa senate just now
Rajapvt
Sensex CMP19712, targt is 19820. at this level 5th might top out.
Master's Pre-Market Preview is consistent for last 3 days.
Good morning master & JN family
Have a nice day !
Good Morning Master and copy to All
@Parimal: Booked longs, trailing rest. Following mechanical trading to see the JNSAR number on chart for taking shorts....
Dear rajapvt,
why not? Only Bulls will have to keep it always up and above week & Month pivot...and probably due to NF O.I.below 2 Cr.they would...
Put prices not increasing fast (no agressive shorts), call prices reduced fast (only profit booking). Just my view.
@mynac
good morning
nice to see you active after a long time,
i think only 6000CE short covering can add new fuel to this rally.....6000CE is acting like a wall of china recently. right?
@ANMP: Last month OI was pretty high (above 1Cr), but this month it was max @60lakhs, now reduced to below 57 lakhs...
Highest CE OI changed to 6200...
6000 CE OI Reduced by 210 thousand and 6200 CE OI Increased by 180 thousand.
Dear Deepak pinto
approx target of the consolidation between 5823 to 5965 comes around 6062.
Pl enlighten about the method you arrived at this number. Thanks in advance.
Regards
Badri
Sir ILango ji and every one good morning
@Parimal Sir,
A Tgt of Sensex 12820, is it found with from Ramki sir's website??
Or it is found by you..
Prithvi Yashashvi
yes, i am following Ramki Sir's trgt and also weekly wave count by Sir Ilango.
Dear anm,
GM,
Not giving much weight-age for that 6000 CE addition/deletion...considering the overbought nature of week & month.
On the contrary looking 200 to 500 points out of money PE's from current price..:):)Just have a look @ their addition/deletion after recent expiry...Even Big players also looks cautious..
New Post Done.
good mornig ilango sir and blog mates
parimalji
ramki ramkrisnan will orgenizing some seminar in india, check that web site
Namathe ilango sir and friends,
Today's quote received :
Rich people travel in cars,
Poor people travel in carts,
But special people always travel in hearts...
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