Wednesday, May 15, 2013

Nifty Intraday Update-I


Pankaj Shukla said...

I am better Advocate on my fault and better Judge on other's Fault.

Aditya Jain said...

sir please help me i took short at 5991 as per jnsar level holding till 6011 and then i reversed my position as per jnsar level and then reversed my positon again as jnsar 6011-20 is 6090 and reversed my postion which i had to leave. please help me as where i went wrong.

cooldent said...

Shuklaneee namaskar.

Bahut din hogaye.

rochak parekh said...

may be entirely irrelevant

but NS showed ( only displayed ) level of 6172 today morning premarket


P.S.- please dont take my information as any reason behind initiating any trade

rochak parekh said...

NIFTY perhaps induced by lower inflation data yest. decided to react today


shriram said...

GM Master & JN Family,

New highs a real possiblity.

S4S : hats off for smelling it Day b4 :-)

Ilango said...

@ Aditya Jain,

1st JNSAR short @ 5991 & prices did not move above 5991+20=6011 on 13th.

The next day's (14th) JNSAR was 6011 and with filter 6011+20=6031 and prices did not move above it.

For today, the JNSAR is 6022. Based on Pre-Mkt, it was suggested that prices, in a trading mode, would move towards DHEma or DHEma+20. Hence, one should have reversed to longs @ 6022 @ open.

OR with the filter, the position should be reversed @ 6042 with 6022 as SAR.

Nilesh Patil said...

I think he is a lead indicator of bear run. :)

Anandha said...

look for previous top of 6104 where we may see some selling pressure.

Ilango said...

Open & Low same for 1st & current hour..

marketrider said...

@ ilango sir,

good morning,

sir, should resist @ 80% (6078 or 6086)
2.DHEMA + 20 = 6083
3.First swing high 6087.5

yesterday made triangle. After trinagle move high may be last move.

target = 5970 to 6026 =56 points
4. 6015 +56 = 6071


what is your view at this

with thanks

J.R.Julius said...

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Most comfortable when trade H4 & L4 Breakouts

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Aggressive trader may jump directly with tight stop.

Safe trader can confirm the price rejection before enter the trade.

Here I've shown how to handle H3 & L3 better for our friends Observations.

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rama balaji said...


Hats off to u

J.R.Julius said...

Im out of station the net connection is great challenge here. Even could not login to terminal. Missed excellent Price Action Long entry. :(

shriram said...

EW eyes..

w1 5970 6026 56
w2 6026 5977 -49 -87.5%
w3 5977 6085 108 192.9%

W3 seems extend & if so, Ruff Thumb rule for forecasting Impulse length = 2.5xw1 = 5970+2.5x56 = 6110

Lets evaluate, OTM CE writing @ this zone, if we get the nos.

Ilango said...

@ marketrider,

Firstly, @ 6093, it would be DHEma+20.

The triangle should have five parts but the triangle you talk about has only 3 parts.

STOCK4SURE said...

@ sir/shriram

this upmove can be very fast and furious

possibly may trgt 6178-90 range this week

and as per my charts nifty may stop for a while (few days in b/w 6314-6210)near 6314 only

does it match with any wave form or other analysis????????

frnds plz dont trade just on this view as its based on some chart patterns only

marketrider said...

@ ilango sir

thanks again for correct my mistake

STOCK4SURE said...

as per those charts ns may trgt 6111 today
and may close near 6095-99 range
any dip towards 6060 is a buying opportunity

SP said...

Relabelling the green count, you showed 4th(irregulat flat) completing at 5970. In that 4th, b almost travelled 200% of a. Sir, what are the guidelines in this regard? at which point we can rule out the irregular flat possibility? my earlier perception was dat, b can travel max of 115/125 of a.

Anandha said...

time to book profits in longs. Trail ur SLs

shriram said...

Hi S4S:

Had posted a Wk TA chart in google groups for master , showed a IM Degree CT, tgting 6161/6280

Prolly Ilango ji can review & guide on that.

To EW eyes:
Tgts for this 5fifer from 5970 are :

2.5 x : 6110
3x : 6138
4x : 6194

Pl check if this tallies with ur pattern !

Ilango said...

@ SP,

Guidlines are guidelines...bound to evolve.

Rules are rules...cannot be broken... in EW.

Ilango said...
@ shriram,

We touched upon "Re-labelling possibilities for new highs" yesterday.

Accordingly, if you super impose BN's structure on Nifty, @ 6019 one part of upmove ended after which "a" of a corrective reached 5929 and an irregular "b" reached 6115 and the "c" is unfolding. This view will be held as long as 5925-40 is protected.
May 14, 2013 at 3:15 PM

Ilango said...
@ shriram,

Normal irreg.flat would move away by 0.5 to 0.75% but a highly speculative atmosphere or strong bullish undertones could unfold into a 1.5%(6019+96(1.5%)=6115).

This is an alt.view considering "not yet damaged week TA & month TA.
May 14, 2013 at 3:38

discipline focus said...

Master as you suggested that current DHEMA+20 is 6093, hence current DHEMA is 6073, not 6065. Kindly let us know before EOD the accurate DHEMA as you know I keep a fraction of normal position (70%, 80% etc.) when market is in trading mode(D.HEMA+20 - D.LEMA-20) instead of trending mode.
Or shall I use the real-time settings of D.HEMA in my charting software (amibroker)?
This has helped me in keeping whipsaws to minimum, and remain calm till the time I don't use discretionary methods of support and resistance for trending market and just follow the system mechanically

Anandha said...

Next target look for 6129. Trail longs.

Ilango said...

divya thakor said...
is 5th wave on hourly t/f an ending diagonal?
wave -1 5867.80 to 6019.45
wave -2 6019.45 to 5928.45
wave -3 5928.45 to 6070.15
wave -4 6070.15 to 6040.45
wave -5 6040.45 to 6114.55
and sir
on complesion of 5th wave completed B on day t/f or 5th wave completed on day t/f?
May 13, 2013 at 11:47 AM

Ilango said...
@ divya thakor,

There are other "re-labeling" possibilities exist for more highs till 6000 & 5965 are protected.

There is weakness @ previous highs; how prices react here would provide some trading opportunities; but how prices end @ EOD would have more validity along with follow-up action.

Keep the options open, the right way to follow prices.

(Remember, divergences if appear in higher T/F has more success rate and not the "Just Overbought conditions".)
May 13, 2013 at 11:58 AM

shriram said...

Ilango ji,

wot will b the tgt for GREEN "v" lable now sir , 6150-60 NS ?

Amol Sharma said...

@STOCK4SURE Excellent analysis work out.

Ilango said...

@ discipline focus ,

Once a high is made, DHEma changes. Subsequently, it remains same till the prices are below that high.

Once another high is made during the day, DHEma rises and this continues till more highs are made. Once the DHEma rises during the day, it never comes below that price, it can only rise with every new high.

Opposite is true for DLEma.

However, DEma, though changes up & down during the day will be known only @ EOD.

Hence, for DHEma & DLEma, the real time prices would reflect the latest price of DHEma/ DLEma..

Amol Sharma said...

Anandha said...
Next target look for 6129. Trail longs.
May 15, 2013 at 10:42 AM

Ilango said...

@ shriram,

6145-81 is a resistance zone, though a minor one.

Two more days to go for week TA result.

Until some weakness creeps into at the minimum in Day T/F, ride on..

SP said...

Thank you sir :)

rochak parekh said...

dear sir and friends

what does an early morning gains of over 115 points in nifty implies

a. - mega move of over 150-160 points

b. - flat close near days open

c. - close around current 110 points gains

kindly have a guess work, my guess nifty 6150 is on the cards today,


P.S. - guess work and quiz only, dont take it as a reason to initiate any trade

shriram said...

tks master !

Have u considered the IM Degree CT count , as a possibility ??

a 4531 5630 1099
b 5630 4770 -860
c 4770 6112 1342 122.1%
d 6112 5477 -635 73.8%
e 5477 6148 671 50.0% ** in play

The wave-form from 4531 resembles a suspected Leading Diag. (5-3-5-3-5), to my eyes

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-6009, R2-6068, R2-6097, ATP-6081, VWAP-6081

Huge aggressive writing at 6100PE, looks like we may close above 6100 for the day, the CE writers are just not able to find any footing…

Thanks & Regards

ITradeForProfit Daily said...

11 straight green candles in 10 min chart NS

rama balaji said...

Hi ,GM,h4 killing boss

Anandha said...

6105 on spot seems to be crucial for now for small correction.Time to book profits in longs and wait to see the direction.

Anandha said...

if 6105 breaks then I will look for 6088 levels for the day.

Abhi said...

Anandha, this is the first day of new upmove. Dont think about short now. Think about reentry in long only.

Anandha said...

yes. I'm looking for new entry only. No shorts now.

STOCK4SURE said...

Nifty now at res of lower T/L of rising wedge formed from 30th april lows

near 6130 will be limit of rising wedge lower T/l till eod

shriram said...

yes S4s,

Bell curve maths also suggests we shall see 6130 -50 first before any dip...

shriram said...

and beautiful Bull Flag on SBIN

Tgts : 2400 / 2450 spot, if breakout @ 2350 is protected

discipline focus said...

Thank you master , from now on will adapt accordingly to new intra-day highs/low and subsequent real time changes in EMA's keeping in mind and giving higher weight-age to EOD EMA's


chetas said...

vix action is not in correlation , any one has a view why this is so?

garaga suresh said...

it big breakout 6119

ITradeForProfit Daily said...

ND Sir's ATR Breakout Target of 6123.85 reached.

Abhi said...

Sir, why you are not referring conservative trade these days ?

Anandha said...

SBI, ONGC, RCOM and many more breakouts. Nifty is getting ready to have a good rally. Lets stick to our trading rules.

Anandha said...

6320 is expected where we may see some profits comes. That's going to be channel top.

Suresh A said...


i like this blog i will visit agian

STOCK4SURE said...

Anandha said...
6320 is expected where we may see some profits comes. That's going to be channel top.

if 6320 comes then 6538 is must to come which may be top(just ny view no offence meant)

may pause near 6314 for few days

vishnu said...

Respected Sir,
Pranam .
The VIX is now 18 ..the same gives some indication please advice.

RainMaker said...

Hi ! It long time, lots of new guys here.

Me too agrees with Ananda this move should end at 63**. Apart from channel top, likely end point for B wave also happens to be there

DR.SGM said...

Dear sir,@aii.on 13th may the FII's traded in index futures around 1.5 per the SEBI website.usually they trade around 1000-2000crore in index futures everyday.nifty was down more than 100 points on that day.does it infer any significance? pls eloborate on this if anyone knows about it.thank you.

Tushar said...

Hello Sir/ Seniors , need your feedback on India VIX. It is in rising mode.Is there any implications on Nifty?
Thank you.

RainMaker said...

rochak parekh said...

dear sir and friends

what does an early morning gains of over 115 points in nifty implies

:"6098 by the end of day"

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