Thursday, April 18, 2013

Nifty Pre-Market View.

There were many challenges while marking these sub-waves in a 2 minute chart.
Major one being "Remaining objective". Combining regular TA kept affirming to stay the course.
Though 3.1 started impulsively, the 3.3 was testing our patience.
Only the 1st wave unfolded remarkably with a text book characteristics but the atmosphere, then, was bearish. Only when the "Flat correction" of wave 2 unfolded, again in classic text book style and withstood the "Global sell off" that one could be sure of a big reversal and JNSAR triggered within 8 points of the opening on 16th April.
As more people know of things, it becomes a challenging task.
A new high today should complete a 5 wave move (A/1st wave) and a correction should hold around 5660 into next week.



39 comments:

Bala C said...

Good Morning, Ilango Ji

Pattern Trading said...

Good morning master..

Bajaj Auto chart update : Click here

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Nilesh Patil said...

Good Morning Master & Friends,

Manish said...

Goodmorning master and all friends,

Atma pranam to master and Wishing all Happy Ashtami and Navami.

DNSHUKLA said...

Good Mng Sir and friends.

Parminder said...

Master ilango and friends,
Good morning to all
Regards
☺☺☺☺☺☺

San said...

Good Morning Ilango Sir and Friends

TCS Chart analysis: CLICK HERE

amber said...

Sir ILango ji and everyone good morning

ALBELA HOUSE said...

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

NEVER GIVE UP said...

Good Morning Sir & All Friends.

suraj804 said...

Good Morning Ilango Sir and Friends

Aditya Jain said...

sir illango ji and other blogmates, i am aditya jain from a small city trading for past 8 years trying to learn from all of you this is my first post and would really need help from all the teachers who are present here. I would really appreciate a mentor and a guardian to teach me about the market as i am quite passionate about it hopefully i till get a positive response.
adityajainjbp@gmail.com

venkateshspices said...

Good Morning sir & Friends, wishes you to have a profitable day

Parimal said...

Namaste Sir a and all friends
haave a nice trading session

Amol Sharma said...

@GM all. Looks like spinning top bulls above 5724

Ashwin said...

Good Morning ILANGO Sir & Friends...

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning.

Have a Good Day :)

Yash and Dhan said...

Good Morning Sir and dear friends.
Welcome Mr. Aditya Jain.
Have a great day ahead.

vignesh said...

Good Morning Ilango sir

prakashbkc said...

GM Master,

A new high today should complete a 5 wave move (A/1st wave) and a correction should hold around 5660 into next week.
5660 should hold today or next week?

Sudha Rajesh said...

Good Morning Guruji and Friends

Hitendra said...

Good Morning Sir & friends.

NF recoreded a high of 5782.10.

What is its importance?

anmpatel said...

@master
today weekly closing.
can we neglect weekly down trend with momentum as nifty trading above 5wema and wpivot? or still trend assertion can occure?
thanks.

Debdeep said...

Good Morning Ilango Sir, JRJ and others. Yesterday OI data shows FIIs have booked profits in longs. @JRJ: Yesterday 1st time I traded Camarilla levels and made 32 points on one lot. Thanks a lot for helping me learn Camarilla.

Pattern Trading said...

Bajaj auto below important number ..

sandeep bhoite said...

@Master,

If we consider todays Low complted 4th ,

5th Target = 1st wave =114 Pts

So 5682+114 =5796 .

Is that valid.?


Abhi said...

Orb - 5682 to 5711. open low same @5682. SL for long 5680. SL for shorts 5711. 5711 is mentioned by Sir yesterday.

rajiv malik said...

Ouch! Somebody hot hurt today at open RT @JainSumeets #Nifty futures freak high today at 5782 pic.twitter.com/ak7pMfk9C9

Sujatha said...

GM sir nd friends

Sir

Is Nifty future made high of 5782?? or that's freek one?? if so kindly post the actual high. tks n advance

regds

Ilango said...

@ prakashbkc,

There are two possibilities at work now:

A. If the correction continues with a complex 4.b, then Nifty could move higher to 5720-35 zone and retrace to 5665 or lower for the day.

B. Holding around 5675-85(incase of a fall now) in the next hour, it moves higher in its 5 th wave.

The fall that will unfold after a 5 waves is generally bigger than any of the falls during the 5 waves formation. One should be prepared for the same next week.

Ilango said...

@ anmpatel,

One of the weeks would be reserved for "Reversal".

Other technicals suggest such a possibility.

Still 5 hours to go.

After the 5 waves, it could attempt ...

Ilango said...

@ Sujatha,

5709 is traded NF.

Ilango said...

@ sandeep bhoite,

That is one of the "theoretical possibility".

prakashbkc said...

thanx master, for reply

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