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...
15 comments:
Sir,
TT showing last hour's low is 5799. Is this correct ?
DKG said...
"Hour in OB zone but yet to show signs of weakness. Weak below 5808."
March 6, 2013 at 12:42 PM
The Nifty reversed down from Monday’s peak of 5,878 to end the week 131 points lower. Since the index closed below the 5,766 support, the short-term trend has now reversed lower. Next target according to the charts is the November low of 5,549.
As indicated last week, targets of the third wave down from the peak of 6,112 are 5,827, 5,739 or 5,595. Since the index is halting near the second target, a reversal is now possible that takes the index up to 5,787. Inability to clear this level will mean that there is further decline on the cards.
Traders can rest easy with regards to the short-term trend only on a close above 5,860. Move above this level can take the index towards the key medium term hurdle in the zone between 5,940 and 5,970.
The medium-term trend in the Nifty remains up. We stay with the view that close below 5,600 is needed to reverse this view.
Dear Sir,
According to above msg of hindubusinessline,
i will initiate short near 5850 or on break of 5787( ard 3.20 pm today).
is it advisable & maatches with TT?
@ Master Sorry about that query... retrace table is ready.. i was caught on the wrong side which made me pay heavily for the same lack of concentration was the main cause for this.i am not a regular trader...i trade only when time permits because of work timings...
staying above 5808
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-5780, S1-5752, R1-5831, ATP-5830, VWAP-5830
Its been a reversal of fortune for the PE writers with huge addition at 5800-5600 level, with CE writers unable to keep pace, 5800 level for the day goes to the Bulls…
Thanks & Regards
small H&S developing in ns 2 min charts
ht of neck is 5728-5711=17 pts
cmp 5818..right shoulder in making
below 5812 may trgt
5812-17=5795
@ nilesh ji,sorry if disturbed you,possiblities are not confusion.
test
MASTER,
master can we say that 4 wave over
master,
2 wave 117 point
4 wave 117*1.61=189 point
4 wave 5663+189=5851 almost done
@Sushil,
i m having same question caz 2nd wave is irregular flat.
New Post Done.
Follow up : hrly bar closed 5823.80 sl hit lost 17 pts..shorts closed
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