Friday, April 12, 2013

Nifty Pre-Market View.

Weakness Below "5583", Pivot & Last Hour Low towards 5552-21 & 34 Hr smas.
Below 5550, 5544-28 is 50.0%-61.8% retrace of the entire rise.
Holding "5544"(approx), Nifty could attempt new highs either today/ Monday.
"5583" is also another important number for the day, EOW and hence closing above it bring "Pause" to the weekly downward momentum failing which pressure continues on downside.
"5631" is the 0.618 times target of 140 points rise from 5477 to 5607.(It could change depending on today's moves)
Holding below 5615, "b" wave continues as a "Flat, "a" being 5477-5607. Hence, first session is likely to be "Down".



76 comments:

Bala C said...

Good Morning, Ilango Ji

San said...

Good Morning Ilango Sir and Friends

INFOSYS and SBI Chart analysis: CLICK HERE

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Anandha said...

Ilango Sir,Still trying to understand what % of retracement is 5474 for a rally till 6110 from 4764. Could you please educate me on this?

ALBELA HOUSE said...

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

rajapvt said...

Good morning everyone.

saravanan k said...

Good morning Ilango sir & all blogmates

Rgds
Saravanan

Dinesh Palanichamy said...

Good Morning Master n JN Family

Nilesh Patil said...

Good Morning Master & Friends

Soura said...
This comment has been removed by the author.
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@5631 ↑
H3@5613 ↓
L3@5575 ↑
L4@5557 ↓

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

suraj804 said...

Good Morning Ilango Sir and Friends

Yash and Dhan said...

Good Morning Sir and dear friends.
All seniors if you notice for last 3 times JNSAR has been in opposite direction of infy result last time we were short and infy gave a blip. today we are long in JNSAR and infy is short.

Amol Sharma said...

5520.70 open price big gap down.

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning.

Have a Good Day :)

HARISH TAHKKAR said...

Event Day Volatility may produce low risk high return trade.
5755 to 5477 Golden Ratio @61.8% 5649 & SLO 80% 5699
10 Day ATR =76, VIX range = 5541---5641
5 Minutes RSI at close 51, it will be stretch area (5649)
Down trending market on rise from 5477 to 5611 = 134 points.
Trade only if you can square fast hawk speed.
Event Day.Not trading,money not lost = money earned.

Parimal said...

Namaste Dear Sir and all
friends
have a nice day

rajapvt said...

Today is the day going to demonstrate how JNSAR trades one should when market opens in the opposite direction. Experience it. Just join the market trend. Remove ego and emotions. Let market react.

NEVER GIVE UP said...

Good Morning Sir & All Friends.

anmpatel said...

@master
kindly guide now how should we manage JNSAR trade??!!!

Sudha Rajesh said...

Good Morning Guruji and Friends,

Am I supposed to close yesterday's JNSAR long trade and reverse? At which level would be more appropriate? Please advice

Shekar Srinivasan said...

@ Ilango Sir,

Please guide me how to manage JNSAR?

J.R.Julius said...

Camarilla Update : Nifty Spot
Scenario#4

Pattern Trading said...

@ Shriram :) Infy ... 3rd of 3rd showed up :D

Abhi said...

Hi,

I think we can manage JNSAR long this way-
Wait for some time. Let see how much recover is done. U can calculate retrace of 5594 - 5500.

If we see weakness again around 5550-5560, we can exit long and enter into shorts.

Sir, will this be a correct approach ?

Renju S said...

Are we going to see a -90 to -100 points decline today. We still have IIP data to come in today...

What if IIP is +ve, will it nullify infy effect...

Thanks,
Renju.S

Ilango said...

"5501" is the recorded low which means 5503-80% is held.

Allow the bounce to reduce losses on Longs & trail with a rising SL.(5520 now)

Ilango said...

Whenever prices do not close above JNSAR, taking JNSAR longs is a risk.

Yesterday's prices closing below JNSAR-5606, especially when larger trend is down indicates weakness. It may have worked if larger trend is "UP".

anmpatel said...

@master

thank you.

shriram said...

GM Master & JN Family,

Infy has rewarded finally, best for sure :-)

anmpatel said...

@master

but u changed the JNSAR since morning to 5587 from 5606......so long was carry forward!!!

not talking about loss, just talking about system.

Renju S said...

breakdown target of ATR range is 5430.5, which if turned into reality is a bigger fall for nifty..5594 to 5430..

As master says lets follow the price action...

Thanks,
Renju.S


Sujatha said...

Nilesh ji - special GM :)

amber said...

Sir ILango ji and everyone good morning

Sudha Rajesh said...

Guruji,

And we have to reverse from that stop loss ?

prakashbkc said...

GM Master,

Allow the bounce to reduce losses on Longs & trail with a rising SL

Does this mean nifty remain weak though banknifty is in uptrend.
Master how to read this divergent view of Nifty & BN?

Pr M said...

@Ilango

Yesterday on the charts JNSAR was marked as 5587 and the NS closed above that.....therefore carrying longs was a correct position. I am suprised no member seems to point this out

Sourav Kundu said...

This is just for JNSAR followers like me. I do not mix studies but follow just one system.
Did we jump the gun and go long yesterday when we had a slight trigger on JNSAR? Did we go short today when today's JNSAR got triggered with the 20 pts filter on the short side? Are we still holding longs? Such days of JNSAR whipsaws teach a lot about ourselves than about the market. But are we listening :)

I have so many golden quotes from Ilango sir which I read to keep my mind from not thinking but following what the market shows.

Follow and flourish... predict and... ? Good luck my friends.

Amol Sharma said...

imp bounce of 5544 upto yesterdays low done now; above 5544 this will take some time.

Abhi said...

anmpatel, Pr M
Try to understand what Sir meant.

Ilango said...

@ Abhi,

Your strategy is good & practical.

21 Hr Sma @ 5547 & 34 HR Sma @ 5551 is the zone, one can exit & manage their trades.

Nifty came almost close to 5547 @ 5544.50

Amol Sharma said...

who was bought infy put great gains. may I but not.

rajapvt said...

Saurav: You are lucky, but trade table is in JNSAR long.

anmpatel said...

@abhi

not blaming anyone man! its not my attitude

was asking in future such thing happens i can act according to it....

ya but master changed JNSAR to 5587 and nifty close above it to carry longs...is remain concern.

loss are the part of game i already reverse at 21hr sma with sl just 20 points.

thanks.

Ilango said...

@ Pr M,

In downtrend, taking the next day's JNSAR is risky. IT is an error of judgement of mine.

It may have worked in an uptrending market.

I have repeated it often: Always be suspicious of rises when the prices are below Medium Term averages(50DMA) & LT average(200DMA).

We wanted to add "sell" around 5630-50 zone but Infy has changed it.

Amol Sharma said...

I think lower circuit hit in infy.

Abhi said...

anmpatel,

Sorry if I hurt u. But we found new learning on JNSAR from Sir's words. Do u agree ?

Sourav Kundu said...

Dear Rajapvt,
I follow just JNSAR. You will not believe me but I have never ever tried to understand the trade table... not that I don't want to, but just that I could not, and well to be honest -I did not even try to. JNSAR has been working fine for me for more than an year now. Why look elsewhere?

Guru said...

I feel this is an important lesson to be learned for all those who trade with one system JNSAR -

Ilango said...
Whenever prices do not close above JNSAR, taking JNSAR longs is a risk.

Yesterday's prices closing below JNSAR-5606, especially when larger trend is down indicates weakness. It may have worked if larger trend is "UP".

anmpatel said...

@abhi

no hard feeling dost! feeling hurt is not my attitude also!!!!

anmpatel said...

@master

now looking to current scene what will be best resell area? 61.8%-5569 with sl of 80%-5589 right? i am new to fibo so asking...
thanks.

Anandha said...

Sir ji, If crosses yesterdays low of 5476 next resistance seems to be at 5562 to today?I added short positions yesterday end of the day as it is not closed above JNSAR. Do you see more down side by EOD today as major trend is down. Recent low on nifty 5474 retracement is strong to hold?

Nitin Kadam said...

@master,

As Open Low Same in NIFTY SPOT.

Doing TSL to avoid losses will be the good idea? or better to exit near 5550 & Taking Fresh Shorts @ 5550 will be better?

Thank You.

J.R.Julius said...

Camarilla Update : Nifty Spot
Experimental Due to GAP DOWN

If someone Interested Calculate Camarilla Levels
using OPEN 5520.70 instead of Pre.CLOSE 5594.00
and Just Observe the Experimental Levels.

*Only for those who have burning desire to find
something new!

rajapvt said...

Saurav: No need to change as long as getting rich :-)

We have good traders here, all are sportive and learning the lesson from market today.

MARKET is the BOSS. When BOSS says, just FOLLOW.

Sourav Kundu said...

Dear Ilango sir,
With all due respect my previous comment was just to show that how can one be objective and follow just one system. I do not intend to say anything against the trade table... just that from my infrastructure standpoint I cannot follow anything other than our JNSAR.

And like I have always said... you have shown me how to take those baby steps towards removing the ego, the thinking and doing what the system says. The sooner we realize, the closer we are to silently getting rich.

Tushar Thete said...

Master

As Nifty taken support @ 5501 so for intraday can we look for short between .38 to .618??

Please guide

Ilango said...

For a loss of 35 to 45 points, all studies should be thrown away...!



Ilango said...

All the money made using these studies should be conveniently forgotten... How ungrateful it would be?

ITradeForProfit Daily said...

ND Sir's ATR Based trading system says as of now

Previous close : 5594.00



Last traded price : 5532.00

Breakdown occurred below 5533.2

Breakdown target : 5430.5

SL for short positions : 5544.50

anmpatel said...

@master
can we consider like this?

5477-5607: a 130
5607-5501: b 106
5501-5xxx: c if a=c then 5631! that was also old resell area?

thanks.

Swami Shivkumaar said...

Dear Sir, I maintained my short position even though JNSAR triggered yesterday, as it was not very convincing and against the larger trend. Bit riskier but paid off. Now can i close and short again below 5519(dev DLEMA) or wait for it to break. Kindly suggest. Why I ask this is because you have suggested 5520 as the sl for longs
Swami

vksoni said...

letest signal from tt........closed below hlema while hour lead indicator turn down from overbaught

Parimal said...

O God
it is quite disheartening to see someone ungrateful! please forgive hi, Good Lord!

rajapvt said...

Believe and have faith in system. JNSAR not came in a day. Follow the system. Get rich slowly.

Pr M said...

@Ilango

Thank you for your gracious comment...I am a silent follower and gained much from your teachings.....my only concern was that the blog should encourage free flow of ideas and am glad that you do.....best regards

deepak pinto said...

Sir
i have a question to ask.
u have put 16.00 hrs and put up hema lema and 5ema in premarket.
these are levels before the hr is over as market ends 15.30.
are these levels available before the hr is over or are subject to change depending on the hrly close.
and sir
i would like access to the TT
so that i could look at it on a hrly basis.
thanks

prakashbkc said...

Master,

AS per ur yesterday comment I created short in may series fut & holding.
Yesterday I bot NF April at 5550 Spot sell 50% at 3pm today i got out luckly with loss of 10 point
Do i create short further now?

Arun v said...

Master, we arn't considered all signals, yesterday evening noticed that Vix up by 4% and NF premium went down below spot, now under stood that the result. All though remembering that u have mentioned that, longs are for intraday only.

Arun v said...

Master, we arn't considered all signals, yesterday evening noticed that Vix up by 4% and NF premium went down below spot, now under stood that the result. All though remembering that u have mentioned that, longs are for intraday only.

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