Till the downtrend gets exhausted, no number will qualify for key support.
No anlysis is good that does not take into account the "Trend".
There are no supports during downtrend till the trend is spent and
there are no resistances during uptrend till that trend is spent.
There is only one quality a trader must possess in order to make it big..."Being still".
It requires tremendous amount of courage to be still while the trend is on. "Be Still".
The best way to have traded yesterday's market was "Sell on rises" and market gave the perfect entry @ the open at pre-mkt's resistence of 5711-18. Next clear weakness was its inability to hold above 21 Hr sma.
The final confirmation was the break of 80%.
For the day, Only a close above 5677 or 5686 would make the day trend "UP".
No anlysis is good that does not take into account the "Trend".
There are no supports during downtrend till the trend is spent and
there are no resistances during uptrend till that trend is spent.
There is only one quality a trader must possess in order to make it big..."Being still".
It requires tremendous amount of courage to be still while the trend is on. "Be Still".
The best way to have traded yesterday's market was "Sell on rises" and market gave the perfect entry @ the open at pre-mkt's resistence of 5711-18. Next clear weakness was its inability to hold above 21 Hr sma.
The final confirmation was the break of 80%.
For the day, Only a close above 5677 or 5686 would make the day trend "UP".
33 comments:
Namaste Ilango Sir and blog friends
LV
Master ilango and friends,
Good morning to all
Regards
Good Morning, Ilango Ji
Good morning everyone
R/Ilango Sir,Namaste n Namaskaar 2 all reader's.
Good Morning Gurudev and friends
good morning master and friends
today ha open is 5683.42
this week ha mpdm-high same at 5802.
thanks.
Namaste Dear Sir and all friends
Have a nice trading day
Dear All,
Observation on weekly candle stick patterns (fractal) for both Nifty and Bank Nifty.
Weekly candle stick pattern from Nov 25rd 2011 to Dec 18th 2011 seems to be repeating from March 1st 2013 till date.
If same fractal repeats for next 2 week then,
Bank nifty should drop by 3-4% over previous week's closing price.
Nifty should drop by 2-3% over previous week's closing price.
If the fractal repeats right per mentioned price drop we have 89 Week EMA support from both the indices.
Raghavendra
good morning llango sir and friends
Ilango ji,
Good Morning...
Namaskaaram GuruJi and Brother & Sisters,
Good Morning.
Have a Good Day.
Sir ILango ji and everyone good morning
CONFIDENCE,
doesn't come when u have all the answers..
but,
it comes when u r ready to face all the questions
kaha gaye woh 5623 ki pipudi bajane wale
@Nilesh
Hahahahaha....Good one ... "bulls bhag gaye" who were going to "protect "5623" at any cost :)
Cheers
Good Morning Ilango Sir and Friends
Good Morning Master And All
Dear Sir Sorry for number prediction, I will not do it again.
Camarilla Keylevels - Nifty Spot
H4@5686 ↑
H3@5660 ↓
L3@5608 ↑
L4@5582 ↓
@Chetas,
MP updates....
Good Morning Sir & All Friends
Camarilla - Scenario 1
Good Morning Ilango Sir and friends. OI data of yesterday shows further shorts created by FIIs. Current range is 5600-5700. Outside this range we can have trend.
Today already we are trading below yesterday NF low 5633.9.
NF VAL is 5658 and POC 5703.
Since opened below yesterday low, my understanding is the Spike down yesterday is accepted.
Colour is love...
Colour is life,colour is inspiration,colour is innovation,colour is creation. May this festival of colours fill your life with colours.
HPPY Holi to You & Your Family Sir & All Friends Here.
gm master dr ji julius sir n all for good day
Good morning Dear sir and friends.
If you all find time this holiday please read this.
Sharda Ugra brings a lump to the throat with this fine article.
http://www.espncricinfo.com/india-v-australia-2013/content/story/626725.html
Good Morning Mr.Sandeep,
Have a Prosperous Day.
Namaste Ilango sir and all,
CLICK HERE Nifty DAY MA chart
CLICK HERE NIFTY DAY Chart
CLICK HERE NIFTY HOUR CHART
New Post Done.
Now NS and NF march above yesterday low
but NF april is still below yesterday low 5674
If this breakdown fails on the downside, my reading is the reversal will be fast, as the upside resistense in NF march is now previos close 5645 and the VAL 5658 and if brks that the POC 5703 is far, so much scope for price to move
( I am still new to the profile based trading , just sharing my observation )
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