Tuesday, April 16, 2013

Nifty Pre-Market View.

mmarketman said...
I think EW chart serves only academic purpose....no use for intratrade.....
on chart C is complete @ 5555...lets see ... April 16, 2013 at 2:42 AM
I do not know what kind of EW knowledge you have to "reject" a study as "Theory" only.
Think before uttering any such "words".....as they can make or break other reader's confidence. Unfortunately, people read too much into negativeness. People who can't do become "critics".
It is the "easiest thing" to do.
Doing is challenging; We like to encourage doers. Nay sayers have no place here or even hereafter.
We have been doing it for 5 years... objectively. If I have to take the trouble to answer you, (I could have simply deleted your unworthy comment) it is to use the opportunity to remind readers that most of the studies were prepared out of someone's hard work and the seriously inclined person would seek the truth in it and benefit from it. Isn't that our purpose here.
If you have followed our interactions thru' the day with "Shriram", we were looking at the "sub-waves of "c" of a corrective "abc". Please note that the "Red C" got completed @ 5593(Closer to the channel top). We anticipated it @ 5580-85.
Hence, the red coloured labeling need to be taken into a/c and after the "Red b" wave, the "c" is unfolding and we haven't shown it as completed.
EW offers you options...very valid ones. When the options are many, wait it out till it becomes just two and there are instances, it is just one which would be a terrific trade.(Higher the T/F they appear, higher the reward; Lower T/F such as 2 min provide an excellent learning platform)
We have also suggested that as long as 5603-5611 is not crossed (From where three sell offs have happened), the threat of Gap down due to results/ global cues exist.
Infy surprised us but the Nifty prices had closed below JNSAR; we made an error on that day.
Shouldn't we learn from that.
And EW helped tremendously to make "Intraday trades" with its rules & guidelines.
Please do join us in following the market and flourish.
But if you insist on predicting, please do it elsewhere.
I uploaded this chart because "one reader" wanted a bit hand holding. Where is he??
Weakness below 5519(80%);
Strength above JNSAR & the developing 80% for the fall from 5593.


Bala C said...

Good Morning, Ilango Ji

San said...

Good Morning Ilango Sir and Friends


venkatapathy l said...

Namaste Ilango Sir and blog friends.


Parminder said...

Master ilango and friends,
Good morning to all

krishna varma said...

Dear Sanjay Sir,what your view on Nifty today?

anand said...

Certainly the post explained a lot of small moves which untrained eyes fail to see (even now I am yet to learn the art). However larger moves become clear with practice and regular following. Education is the beginning point for practice.
Your comments in response to Sriram's labels helped manage the trades well.
Sriram is a great example that anyone who is diligent can learn some art and I wish to do the same.
Anticipation is the key and 20 Pts SL is the safety net...
Enough of remaining silent on this blog. its my first post and will start doing the labelling (EOD if not intraday) and add to this blog - i know some one is there to correct my mistakes and make me learn.
Hope to join the great minds in making here (Sriram, anmpatel, and others)!


Good Morning Sir & All Friends.

sushil said...

good morning master and blogmates

suraj804 said...

Good Morning Ilango Sir and Friends


R/Ilango Sir,Namaste n Namaskaar 2 all reader's .At the right time UR hint is very Use full. @ shriram,

(v)th of vth has already done an extension. Hence, correction should be on. (If there's going to be an irregular correction, another high is possible.)
April 15, 2013 at 1:45 PM
Above 5588, upmove continues.

Keeping below 5588, correction continues.
April 15, 2013 at 2:58 PM

Srinivasan Krishnamoorthy said...

Well said about the critic.
Your words,"please join us and flourish in the market"
Shows your magnanimity

Parimal said...

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

SANPOT said...

Good Morning Ilango Sir and Blogmates.

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning.

Have a Good Day :)

amber said...

Sir ILango ji and everyone good morning

Sanjay Deshmukh said...

(I do not know what kind of EW knowledge you have to "reject" a study as "Theory" only.
Think before uttering any such "words".....as they can make or break other reader's confidence. Unfortunately, people read too much into negativeness. People who can't do become "critics".
It is the "easiest thing" to do.)
With due respect,
those words can be applicable to ourselves while using the language of ‘guillotining’ for those who are using the other ‘techniques’, may be astrology.
What kind of astrology knowledge we have to reject it’s utility and criticizing its followers ?

Debdeep said...

Good Morning Ilango Sir and friends. FII data and OI yesterday shows FII's have covered shorts.


Dear Sir,

Nothing to say too much but know only one thing that in my worst time i found this blog and your unique concept of EW with technical analysis and from that day i am earning with the help of this tool .

I think one should try to go deep in every thing he or she does and keep practising.
Mistakes is not in the rule but mistake in our observation .
I don't know how to explain but know only one thing that this blog made my life from Hell to Heaven.

Getting Rich, Slowly & Quitly.

Renju S said...

If you are finding fault in a system that is proven over a period of time and produced results, then there is something we are messing up with the system....

a)We have not understood the motive, process and working priciple of the system.

b)Check if other are able to derive at a result which you are not able to do.


Sudha Rajesh said...

Good Morning Guruji and Friends

Debdeep said...

Ilango Sir, looks like C completed ay today's low. Is this now wave 3 ?

shriram said...

GM Master & JN Family,

Shud head on way to C=A , 5634

St.WkEMA is a Resistance of note there

Sudha Rajesh said...

Dear Guruji,

Im long based on the JNSAR 5573. It seems it was at 5593 we went short. Shall I keep the LONG with stop loss as 5585? Please advice

Ilango said...

@ Debdeep,

It is.

rajapvt said...

"EW offers you options...very valid ones. When the options are many, wait it out till it becomes just two and there are instances, it is just one which would be a terrific trade.(Higher the T/F they appear, higher the reward; Lower T/F such as 2 min provide an excellent learning platform)".
Let's learn and identify the options first.

anmpatel said...

@master, smo
so the min tgt for 3rd is 5648? as 1st is 5500 to 5593 so 3rd never shortest 5555+93=5648. right?

anmpatel said...

ur no came.5616 great!!!

prakashbkc said...


Is sell on rise still valid?

Tintin said...

Some of the reasons for nifty to move up...choose your favorite...:)

1) Day 9RSI +ve div
2) Trading above week pivot
3) Above day pivot
4) Above day LEMA
5) MACD about to cut up
6) -ve diversion in India Vix
7) JNSAR nearby


shriram said...

@ anmp,

i was couting it thus...

A 5478 5607 -129
B 5607 5501 106 -82.2%
C 5501 5630 -129 100.0%

Will also complete a -WW on Hr TA & encounter Higher T/f St.WkEMA RES @ 5638

If we trade > 5638,

then next logical level is WkHiEMA & lables will transform to 1-2-3-4-5 as Master was saying ysday

Renju S said...

just a note on Nilesh sir ATR range..

Last traded price : 5621.75

Buy Zone : From 5529.4 to 5509.9

Breakdown below : 5506 (stop loss for intraday longs)

Sell Zone : From 5607.4 to 5626.9

Breakout above : 5630.8 (stop loss for intraday shorts)

Breakout target : 5672.85

Dinesh Rishi said...

Good Morning Master and copy to All

The market may be bad,
but I slept like a baby last night.
I woke up every hour and cried.

was carrying long :(

Renju S said...

DR Ji..if you were carrying long in Nifty...you should be happy now....you would be laughing and playing like baby now..

Nilesh Patil said...

Good Morning Master & Friends

Navnnit said...

Hi... Stock4sure and Shriram..

1st(5600)of WW started on 9th of April, 10th of April low made 2nd (5475) and 11th April high made (5594)3rd and 15th April low (5594) was 4th and today high will make 5th (5630-40) and then counter trend starts ... tgt 5300 .. This is purely on pattern of WW...


Debdeep said...

Nice one DR Sir ..... Me too ....

prakashbkc said...

I too carried long but sold at 5580 & take short position Now in pain

prashant said...

sir good morning....... can i sell nifty against nifty 5638 month low ema ?

ajay choudhary said...

Rishi sir very poetic description of pain.

mmarketman said...

1) I said ....no use for intratraade.......have you taken any trade on the basis of this wave count??
2) I am again very humbly raising the question .whether you trade practically or just putting numbers on paper??
3)Whenever I asked this and expected to get answer with high objectivity ...every time you sidetracked the question by using rich language...but in all your answer there was not YES or NO about practical trade
4)I am saying '..no use for intratrade' because its very very difficult to get trade on such small subwaves on intraday basis if you are practical trading......puting it on paper after market close is very easy and simple thing (this last sentence is not as criticism of you but I am putting it as a fact)
5)Practical difficulties on SMALL WAVES trading on intra basis......
a)in sub waves on intra chart there is journey of very few points and if brokerage is high (if 5 points /lot on nifty (on single side) and 100/lot in option) then one cannot control such trades practically.......
b) Gets big stress with entry and exit and to remain in trade...
c)Infrastructural problems..i.e. connectivity loss, hanging of systeam increases those problems.....
d)Gets to much trade and excess trading damages the capital...
So calculating of such small waves on intra basis serves no purpose of getting money but only takes you in next standard of your school
(those all points are for small waves i ..ii...iii etc)

Ravi Pillai said...

Good Morning.
I consider This forum is for a purpose.
If someone Marketman Or Middleman has other opinions
simply Ignore
or still better
Filter them out.
Choosing to convince or make them see the point is a waste of TIME particularly till 3.30 and energy. Ravi

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