Thursday, April 11, 2013

Nifty Pre-Market View.

"5582-85" are WLEma & MLEma, a close above them on EOW & EOM alone would bring a "real pause" in downtrend.
Look at the price rise of yesterday in total context of the fall from 5971(not even from 6112), its just a small blip. But the "Blip" is a "102 point rise" and a 50% of that a trader would love to capture.
Is it a reversal?- It is definitely one in Hour T/F.
In day T/F, it has formed a "Pin bar" but a reversal would be confirmed today.
Refresh your learning: When prices are trending below Medium(50DMA) & Larger trend averages(200DMA), every rise should be viewed with suspicion until a valid bottoming pattern is visible and prices too confirm, initially, a pause & then a reversal.
For the day: If the prices are held below 5578(80%), it would mean the 5 waves got completed @ 5569 and any move above it till 5578 would be treated as irregular (b) of the correction. "B" waves are choppy, unpredictable. Corrections on holding below 5578 could last upto 5535(approx).
Alternatively, if 1st set of 5 waves done from 5477 to 5551 and the next set of 5 has commenced (5545 was not breached), it could move to 5585 & 5619.(DHEma+10-20).
(If you are an experienced trader with an objective knowledge of TA, you could trade your JNSAR position during intraday & capture unrealised profits into your account and continue to hold EOD positions as per JNSAR rules. Use your imagination when things are favourable & when you are reasonably experienced to do manage such swings).



46 comments:

J.R.Julius said...

Good Morning Everyone,
Magic Numbers for trading don’t exist, but a trader who can follow the trend using relevant numbers can do Magic.

Camarilla Keylevels - Nifty Spot
H4@5609 ↑
H3@5584 ↓
L3@5533 ↑
L4@5508 ↓

By watching Camarilla levels, You will start to Notice the Market in a new perspective. It is not a Holy Grail, But a Map.

ALBELA HOUSE said...

R/Ilango Sir,Namaste n Namaskaar 2 all reader's.

amber said...

Sir ILango ji and everyone good morning

maninder said...
This comment has been removed by the author.
Parminder said...

Master ilango and friends,
Good morning to all
Regards

anmpatel said...

@master
good morning
thanks for your detailed explanation, I will work little hard to work out HEMA LEMA system with JNSAR, you ignite my engine.
thanks.

Parimal said...

Namaste Dear Sir and all friends
Have a nice day of trading

Abhi said...

Sir, if we dont get 5535-50 level for conservative buy, can we take JNSAR as conservative buy ?

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

anmpatel said...

@master
you missed the hrly chart?

deepak pinto said...

sir
As we have sign of a reversal time to recap counts.

w= abc= 6112 -5663 (double zz)
X= abc= 5663 -5971 (zz)
y= abc= 5971 -5477 (double zz)
X= abc= 5477- .... (max 61.8 of last zz=5782 then correction resumes)
(max 61.8 of entire correction =5870)
(above 5870 correction over. least likely)
The amount, speed and pattern will give a clue.

Hemant said...

Happy New Year and Gudi Padwa to Ilango Sir and all Members

NEVER GIVE UP said...

Good Morning Sir & All Friends.

suresh said...

Happy Cheti Chand & Gudi Padwa to all

eevra said...

Happy new year - Ugadi / Gudi Parwa ....

saravanan k said...

Good morning Ilango sir & all blogmates.
Happy Ugadi to all blogmates who follow chandramana Ugadi.

Rgds
Saravanan

SUNIL PILLANIA said...

sir
could u please post nifty chart

Manish said...

Goodmorning master and all friends,

BN hits JNSAR and trading above the same.

Hitendra said...

Good morning sir & friends.

Respecting 5582-85.

suraj804 said...

Good Morning Ilango Sir and Friends

charan prasad said...

Happy Ugadi Master ans fellow traders.............

Anshuman said...

Can someone tell me what new name for pantaloonr in ICHARTS.

Hitendra said...

Sir,

May we consider 5610.60 to consider retracement?

Nilesh Patil said...

Good Morning Master & Friends

Hitendra said...

NS
5610.60 5477.20 133.4
5579.12 5559.91 5543.90 5528.16 5512.42 5503.88

FOR NF

5600.00 5480.30 119.7
5571.75 5554.51 5540.15 5526.03 5511.90 5504.24

rochak parekh said...

@anshuman

its FRL, future retail ltd

OM SAI RAM

Yash and Dhan said...

Good Morning Sir and dear friends.
Nilesh Sir गुडी उभारली का ?
सकाळी मला वाटले कि नवीन वर्षात सुरुवात JNSAR long ने होती कि काय

Ilango said...

@ Hitendra ,

Initially, look for the retrace of the last rise from 5546 to 5607(Recorded in Hour charts).

5577-69: 50% to 61.8%

Below 5558(80%), look at the entire rise from 5477 to 5607:

5542-27: 50% to 61.8%

STOCK4SURE said...

5558 is also 55ema in 30min charts
may lend good support

shriram said...

GM master & JN Family,

Wish u all Happy Gudi Padwa/ Ugadi /New yr!

master, how do u co-relate lower T/f Oscill moves with Higher T/f EMA RES for this upmove pls ?

poonam mishra said...

Hi,
Very basic question what does T/f stands for.
Newbie trying to learn !

Ilango said...

T/F: Time frame. Eg: 15 min, 30min, Hour, Day, Week, Month.

Nilesh Patil said...

T/F stands for TIME FRAME

Yash and Dhan said...

Hurray three answers one time!!

Tushar Thete said...

GM Master & All!!

गुढीपाडव्याच्या आणि हिंदू नववर्षाच्या हार्दिक शुभेच्छा हे नववर्ष आपणास सुख समृद्धीचे जावो हीच जगदंबे चरणी प्रार्थना!!!

Ilango said...

@ shriram ,

Lower T/F osc. like 9 Hr Rsi reached +80 but other 14 hr rsi is still midway.

During downtrend, the higher T/F emas have shown their "resisting nature" in the last few days. Until one of those Emas are crossed on EOD, every rise is a suspicious one.

Most traders get excited with the rises in a downtrending market and with the falls in an uptrending market and miss the opportunities unfolded.

The objective trader would initiate his/ her trades based on supports and resistances.

shriram said...

tks master,

The lower t/f (30mins) oscill. is already giving a Div. on BN , but not so on NS

And we have Higher T/f EMA / Candle / Fibbo RES above us... which index gives a truer signal pls ?

OTM Oi doesnt give too many clues as of now.. writers seem to be busy @ 57 & 55 respectively, but 5.6K is sparse !

STOCK4SURE said...

today nf high is 5600
while ns high is 5610

STOCK4SURE said...

Bn making a higher high

STOCK4SURE said...

strong addition in 5500 and 5400pe

Ilango said...

A method trader finds the resistance @ Open.

And finds the 61.8% @ 5569, then.

Method in madness for the objective trader.

Get rich slowly......quietly.

cooldent said...

Sir

Wts tomorrows developing jnsar?

Anand Kumar said...

today high-low resisting at 61.8%

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