Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
44 comments:
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Sir ILango ji kindly update how the 5583 crucial support is derieved thnx
5635 is 21 ema in 30min charts
@J.R.Juliusji
please give me test mail/suja sis mail as i am unable to mail you from your profile.
thanks.
Julius,
timely link, did it
Stock4sure,
january month same time the situation was just reverse, at ard 6000 levels, we saw highest OI in 6100CE and 5800PE which subsequently shifted to 5700PE. And we all know what happened in feb.
So by that logic, we can definitely expect counter trend in April.
Let prices confirm.
Regards
is this an expanding triangle developing in ns 5 min charts???
5612-5654-5604
is nifty moving towards 5660ns???
5635 is also res of T/L joining last 2 highs
5700 and 5655ns
@ amber,
Refer EOD Lead Indicator chart. (Though 5548 is the critical last low, I have taken presently 5583)
ilango sir,
above 5635 conservative buy? 5635 hhema,dlema,wedge breakout,pivot
so far NF staying below VAL 5632
LOKESHWARI
Nifty too lost 221 points last week to hit the intra-week low of 5,631. It is now clear that the third leg of the move from 6,112-peak is unfolding. This wave has already achieved its first target of 5,693. But the weak close on Friday denotes that the index can slip further towards the next target at 5,522. Since this level also coincides with the trough formed last November, investors can look forward to the area between 5,500 and 5,550 as the next downward target in the short-term.
Any pullback will face resistance at 5,760 and 5,841. Traders can play short as long as the index trades below the first hurdle. The short-term trend will, however, stay downward as long as the index trades below 5,930.
The medium-term trend in the index remains up. This view will be threatened only on a strong weekly close below 5,600. Upward reversal from this zone will imply that the index could oscillate between 5,600 and 6,200 for a few more months, or may be the rest of this year. Medium-term targets below 5,600 are 5,440 and 5,282.
sir thnx very much thnx
So today's close is imp as far as 5600 is concerned.
@ vksoni,
The present trade set up fits an "aggressive one" based on Pre-Mkt's aggressive trade table.
Only the EOD could confirm whether there is a possibility for a conservative trade.
A. A close above "5640" brings in a pause - Not enough.
B. A close above "5671" brings in a Day buy - reasonable.
C. A close above "5685" gets a perfect pause- good enough.
above VAL 5632 and Open high of 5635.25, need to see whether sustains
thanks sir
@Ilango Sir,
So Clear Sir.
sir
Is it possible that ns may move up towards 5655ns and dip in last hr below 5600ns as per any wave analysis??
i am getting these nos based on expanding triangle pattern developing
patel - ji - nifty done a small round now on pause mode...2 pm candle will try @ 657/58 sudden spike to 671 not ruled out if 2 pm candle is @ 5638/35 then i am cat on the wall :P :( no trading mood today..watever it is
@ STOCK4SURE,
5718 to 5605 fall looks a perfect 5.
If the current rise unable to retrace more than 80% but falters @ either 38% or 50% @ 5648-5662, resumption of downtrend would happen with new lows.
Last critical low during the rise from 4531 to 6112 is "5548". Attempt at a reversal or a retracement is possible as long as 5548 is protected.
@sujatha
yep. to day we can see volatility because of expiry..i already cover march short at aggressive buy level and waiting for albedazole!!! for short april as per JNSAR...hope last hr one more shot of diazepam!!!
give me test mail as i am unable to test mail from JRJ's profile.
thanks.
@suja sis
got it from gvraviprasad.
is it our JRJ?
frinds
one more hypothesis i observed during expiry day..
the series which is gonna expire (this time march) it high (5638)is around the next series (this time april) low(5638)...so roll over done??
anybody else noted it in past? this is not a rule but i find this many times.
thanks.
wipro and siemens last day in nifty 50 school
can they do some mischief to be remembered by classmates and teachers for a while??
@ravi
thanks you dear very much..sorry for misunderstanding, as in morning i requested JRJsir as per Sis advised.
anmpatel what does this indicate market trend to continue or reverse
in morning 5600ce and pe total prem was near 37
ns touched near 5637 and retraced
now total prem is near 34
so can 5634 be res now?/
Ilango sir if 5718 to 5605 is 5 waves down then as soon as the lows of 5605 were hit market should have made a strong bull candle which doesnt seems to be the case.
An alt. view from highs of 5718 may be:
5718 to 5612: 1
5612 to 5655: a:2
5655 to 5605: b:2
and the current rise may terminate within 5655..
please correct me if i m going in wrong direction.
Day chart of Nifty forms a Doji candlestick pattern so far, yet 2 more hrs to go!
also 5600ce high was 40rs at open and that time 5600pe made lows of near 8rs
total prem was 48
ns did 5648 at open and fell
ravi - lol :) u r nursery student...pls. turn back i am at your class only that too in last bench
patel ji - per Sis advise - kya bath hai sirji :( as u r always busy in your profession just would like to share u something..OOps.. not now..will try at long week end. hope u will decideyour "trading plan" if at all u read my mail also
@charan prasad
looks it contd its downtrend as current scenario... as per HA this is 9 or 10day with HAopen-high same...today HA open-high is 5656...strength above this and a/c to HA SL is previous day open-high same candle 5684....also match with master's level in last post.
the rollover funda is just an observation not a rule....thoda sa timepass!!!! dont get confused with various study/opinion here...please select the one study which suites you...i select day JNSAR for entry/exit and HA for trend looking.
as hrly/daily charts are in OS...one bounce is expected but remember that oversold can remain oversold when larger(week/month)t/f are in down mode.
thanks.
@ Sahil,
It is possible that waves keep sub-dividing.
Accordingly, Nifty has retraced 61.8% of the last fall from 5655 to 5605 @ 5636.
Hence, only a move past 5636 would qualify for larger retracement.
@suja sis
lol...last banch!! maine to aadhi padhai class room ke bahar hi puri ki hai!!!! now a days no planned Operation list b/o HOLI and examination going in gujrat. so i am free today....
i didnt get your mail?...my trading plan is simple...JNSAR and hold a/c to high/low EMA...right now i am in bullet train as close below WLEMA!!!!
thanks.
brb...my little son is crying and her mom asking for my help!!!!!
Dear Ilango please add a link for Just Nifty Google groups along with the other links in one of the gadgets on the right side of the blog. Thx.
emas converging in 5 min charts
can expect some volatility soon to start??
@ sometimesbullsometimesbear,
It is done.
Dear All,
Please find below observations on Nifty constituent indexes along with notes on individual stocks.
For Nifty run up to 6112 : Auto and Banks have been the primary movers. In the way down along with these 2, Power, Capital goods and Metals are the worst performing.
Looking at large cap space with in these, below stocks have key supports based on "previous top - bottoms ", Fibo and Moving averages.
SBIN : Clear 5 Wave decline along with RSI Positive divergence with support at 2020 /1972 / 1945.
ICICI Bank : Complex wave declines...falling in a wedge with supports at 985 /955
LT : Complex Neowave diametric fall from 1720, in its last leg down with huge RSI positive divergence with key support at 1305 - 1310.
Maruti : Complext correction with Huge RSI positive divergence with support at 1266 - 1269.
JP associates : Clear 5 Wave decline visible in Weekly /Daily chart along with Huge RSI positive divergence with support at 60.3 - 60.7.
Heromotoco : Built and traded in large ranges for past 5 years . Range break down 1950 - 1750 with pattern target at 1550 ( done today ) , key support ( earlier bottom ) at 1505 - 1510 . Also sports a Huge RSI positive divergence.
TISCO : Stock is in a freefall territory post breaking 341 - 331 range. Oversold RSI but no divergence. RSI pattern similar to Ranbaxy ( Feb series ). Key support below 300 is at 281.
BHEL : Similar to TISCO, broke down key support at 193 - 195. No visible support till 158. Stock might be Wave 3 of Wave 5 of larger degree wave 5.
RIL : Broke down weekly uptrend line at 810. Might pause here at 760 (earlier support). Another rising trend line is at 725 - 730 levels.
TCS : IT is in a better shape. TCS might be in Wave 4 consolidation with nearest supports at 1533 / 1502.
Above mentioned levels are for your reference, and are expected to provide pause /reversal for another sell on rise but risk-reward will be high for short term ( 6-8 weeks TF ).
Raghavendra
Ilango Sir,
5635 has trigerred. can we go for buy.
New Post Done.
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