Wednesday, April 17, 2013

Nifty Pre-Market View.

Nifty heading initially to 5755-58 zone. And with strength returning in week T/F by tomorrow, it would move higher towards "5825+ zone".
"5648" day's pivot must hold.



60 comments:

Bala C said...

Good Morning, Ilango Ji

Pattern Trading said...

Raymond chart:
http://2.bp.blogspot.com/-_5H9N4qIETE/UW1dTR4V95I/AAAAAAAABDc/xMCYdGuB5uQ/s1600/raymond.png

Raymond is falling in a well formed downward trending price channel. There is huge positive divergence in daily chart. Weekly charts are in oversold zone.

Resistance Zone:
Trend line resistance:- 274
5 week close Ema :- 273.5
21 days Ema :- 274.5
So based on above studies it can be concluded that 273.5-275 is an area of resistance. conservative buy can be considered on high volume break of 275 for target of 282,288 and 295.

Hindalco Chart:
http://3.bp.blogspot.com/-2XANXIuV7KY/UW1aw2oeyaI/AAAAAAAABDQ/PzGP5VQk9GY/s1600/hindalco.png

Hindalco has came out of downward trending price channel and consolidating below resistance zone of 93.5 to 94. Share closed just above 5dhema. Based on moving averages and trend line it can be conclude that 93-94 is a resistance zone. Close above 94 will give breakout to consolidation for target of 98 and 103..

San said...

Good Morning Ilango Sir and Friends

NIFTY Chart analysis: CLICK HERE

Ilango said...

@ Pattern Trading,

You may also post links like how "SAN" does.

Your charts are clean and objective enough.

suresh said...

sir ji,
Good Morning,
ltp=5688.95 & W-5D-ema=5655
then week dn ??

Pattern Trading said...

@Master ....

Thanks .. .this is my best day of my trading life .. as i got compliment from my master ...

Sure i will do it ...

Thanks again master your comment has boosted my confidence...

NEVER GIVE UP said...

Good Morning Sir & All Friends.

venkatapathy l said...

Namaste Ilango Sir and fellow blog friends.

LV

rochak parekh said...



thanks rajapvt for ur kind suggestions, my failure, at the same time, sorry to i lango sir also, that i never went to study that link.

as of now, i was expecting ready to eat feed considering current scenario, which is being provided by sujata( thanks SIS)

botheration, offcourse will be again and again to you,

what i understand from your comment is that

1. nifty remains a buy without a retracement to 5615 also, b coz it might get support at 5 ema on hourly or daily time frame, ( thanks for drawing my attention towards this column as i was ignoring this column till now )

2. your over all view remains neutral to negative for nifty on current levels, that s why u are not a buyer on it, even after a cross of 5718

. BUT what about a strong possibility of a higher retracement since after 38.2 % retrace, it will definitely retrace to higher retracement. do u view a resistance at weekly high ema's, that s why not interested to buy immediately for a b/o above 5718

kindly guide and keep getting bothered, thanks regards

meanwhile SGX bouncing like anything and right now @ 5724.

OM SAI RAM.

Nilesh Patil said...

Good Morning Master & Friends

salimkabani said...

Good morning sir n blogmates.

currently I m on short, what should I do please guide.

Thanks

Dinesh Rishi said...

Good Morning Master and copy to All

Congrats "Pattern Trading"

I appreciate your patience - see the fruit of patience its always sweet.

Wish you all the best :D

rochak parekh said...

respected sir

good morning

we have whole lot of resistances in the range of 5735-5742 ( monthly 5 ema's, last month high, weekly high ema's ).

i completely understand that nifty, after crossing 5718 ( most likely today morning itself) is a case for a higher retracement towards 5795 ).

my humble query is, whether we should go immediately for a buy after a cross over of 5718 for a higher tgts towards 5795, or wait for retracement for the same

and then my another query is , how do u arrive at the figure of 5755-5758 for today morning and also of 5825.

kindly educate

thanks regards

OM SAI RAM

Debdeep said...

Good Morning Ilango Sir and friends. OI data yesterday EOD indicates FII have booked profits in long.

rochak parekh said...

dear friends

inspite of higher dow jones, hang seng , nikkei, avg RIL results, and bullish tone, nifty will remain in resistance zone today morning,

and then hang seng after having retraced for its fall of day before yesterday , may again try to spoil global market mood, affecting a lil to our bullish ST undertone

so kindly keep looking at TT, and also at i lango sir's comment before taking any agressive and immediate long positions, wait for retracements, to remain safer.

again reminding, ST undertone is bullish, but today morning, profit booking might be there.

OM SAI RAM

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@5768 ↑
H3@5728 ↓
L3@5650 ↑
L4@5610 ↓

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

Parimal said...

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

Bhushan said...

Good Morning Gurudev and friends

Sudha Rajesh said...

Good Morning Guruji and Friends

Parimal said...

Pattern Trading
congrates as Master has validated your objectivity,
have a great day

ALBELA HOUSE said...

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

amber said...

Sir ILango ji and everyone good morning

sudharsan said...

Good morning Master and Friends...Congrats to Pattern Trading...would like to see pattern trading link in the rightside blog list soon

DNSHUKLA said...

Good Mng Master and blogmates.

sushil said...

good morning master and blogmates

gkm223 said...

Goodmorning Master.

gkm223 said...

wishing and praying GOD for your good health.

Pattern Trading said...

Thanks Parimal and sudarshan ...

SJkolkata said...

Pattern,
Congrats,
I remember a few days back Master had asked not to post your links but you showed your patience and kept posting details.
Master was testing your patience as well as your knowledge.
As a headmaster of an institution, he was testing your skills to induct you as a part-timer and may be in future as a faculty, if your knowledge can give something to his students.
This is an eyeopener for others also, not to get aggressive on any negative comment from Master but to come and prove his mettle and would be handsomely rewarded.
Congrats once again.

Guru said...

My best wishes for you Pattern Trading .. I (student) am very happy to have one more prof in this college.. :)

salimkabani said...

Sir n blogmates.

I consider ABC 4530_6112

I expect market may weak overall

pl guide.

suraj804 said...

Good Morning Ilango Sir and Friends

anmpatel said...

@pattern trading

congrates man
u win a trophy
keep going forward

some time I also think doing more study on HA and indicators. but unable to give adequate time.

wish u all the best for future.

ITradeForProfit Daily said...

Nifty futures trading consistently with a discount to the spot price.

Is this indicative of lack of confidence for the Bulls?

Parimal said...

Pattern Trading
In Raymond chart, 5down waves are completed

Debdeep said...

Dear Ilango Sir,
Mkt is in bullish tone no doubt but how come NF is in discount? Pls guide.

The_Unprejudiced_Observer said...

good morning
Redrawing of replacement from 5634 to high necessary

The_Unprejudiced_Observer said...

Harish. Thakkar. method reached WHEMA .

suresh said...

till nf not < 5636: buy on dip

suresh said...

or aggressive nf < 5670, then only sell

Ilango said...

Manage this correction with retrace of "5630 to 5724."

5688-38.0%
5677-50.0%
5666-61.8%

Debdeep said...

Congrates Pattern.

Anandha said...

Below 5690 trend line breakdown for nifty for short term.

Debdeep said...

Dear JRJ Sir, Were you able to open the camarilla H3 Sell? As Nifty managed to move only upto 5723 and H3 Sell was at 5728.

shriram said...

GM Master & JN Family,

The oscillator is vibrating a lot on Lower T/f, as bulls search for the next move to Dev.MnEMA / St.WkHi

Have a gr8 day !

salildali said...

Sir
In yesterdays 2 min chart wave 1 got completed at 5629 and 2 got completed at 5630. Is it possible that in EW wave 2 can be completed above wave 1 ?

The_Unprejudiced_Observer said...

@ salldali
That is why it is known as 'running correction' .

varun kumar said...

Good Morning Master & DR sir

vksoni said...

pls anybody tell me nf low and cmp
thanks

J.R.Julius said...
This comment has been removed by the author.
J.R.Julius said...

@Debdeepji,
Its better to wait for levels.
Aggressive traders can initiate trades before
hit the levels with the confirmation of
price action 30mins candles or indicators.

Parimal said...

RIL has crashed by more than 20 pts putting pressure on Nifty

Debdeep said...

Thanks JRJ Sir. I was also looking to short at open but as Nifty didn't moved upto H3 didn't short and also today the SL is quite huge of 40 points.

Ashwin said...

Congrats pattern ! Keep going!

J.R.Julius said...

@Debdeepji,
Here we use SL 20pts. In rare cases we can use
chart sup/res/orb+filter as SL.

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning.

Have a Good Day :)

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