Friday, May 10, 2013

Nifty Pre-Market View.

Prices stopped @ 6085 for two days. But prices have not broken the lows in two days.
EOD prices closed firmly above all Day emas.
DHEma would be rising to Day Pivot or more. Hence, weakness also would be evident below it.
Being the EOW, the critical weekly numbers are far away from the current prices.
Hence, bulls need to protect DHEma for the day to sustain the rally/ sub-divides (iii)rd wave.
Prices dropping below 6005 would lessen the chances of green"v" and prices below 5989/5960 would end it.



33 comments:

Bala C said...

Good Morning, Ilango Ji

ALBELA HOUSE said...

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

Pattern Trading said...

Good morning master and all

Cipla chart update
:Click here

Nilesh Patil said...

Good Morning Master & Friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Pattern Trading said...

Opps link is borken ...

Here is updated link for cipla chart : Click Here

Prakash said...

Gud morning master and all frnds

saravanan k said...

Good morning Ilango sir & all blogmates

Rgds
Saravanan

Arif said...

Ilango ji,
Good Morning..

Sanjeev S said...

Good Morning to all.

NEVER GIVE UP said...

Good Morning Sir & All Friends.

San said...

Good Morning Ilango Sir and Friends

NIFTY Chart analysis: CLICK HERE

DNSHUKLA said...

Good Mng Master and friends.

Suraj said...

Good Morning Ilango Sir and All Friends

amber said...

Sir ILango ji charan vandan and good morning everyone

Parimal said...

Namaste Dear Sir and all friends
all the best for a successful trading day

Dinesh Rishi said...

Good Morning Master and copy to All

Parminder said...

Master ilango and friends
Good morning to all
Regards

Amol Sharma said...

Good Morning All. 5989 0.618% level.

venkateshspices said...

Good Morning sir & friends

Abhi said...

open low same for NS.

chetas said...

NF Profile values ( http://marketpulse-snp.blogspot.in/)

VAH : 6084: POC : 6071 : VAL : 6056

Week VAH : 6023 ( first support being weekly close)

J.R.Julius said...

Good Morning Sir & Blog-Mates,
Have a Prosperous Day.

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@6074 ↑
H3@6062 ↓
L3@6038 ↑
L4@6026 ↓

Safe traders can focus only on H4 & L4.

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

chetas said...

BN BNF open low same

NS open low very near also

6100 ce open low same
6000 pe open high same

Stockathon said...

Good Morning Master & Friends...

sandeep said...

gm master , dr ji , julius sir n all

shriram said...

GM Master & JN Family,,

Have been ruminating on why "5" works in our beloved Hi-Lo system..

One possible reason is EMA lag wrt to the signal it tracks is (n-1/2) bars , so for 5 bars, the lag works out to 2 bars

Coming to the Hi-lo system, on say a Day T/f that means when price closes EOD < DHiEMA, in REALITY THE closing is below < prev 2 Day's High price (as lag is 2days).

As prev Day Hi Prices are often treated in Classic TA as "RES "turned" Supports" ... hence break of the 5DHi gives a Higher % chance that price is either Trend Reversed or into a Day T/f corrective ABC...

This seems to be the secret behind "5"

Have a gr8 trading day !

J.R.Julius said...

@Good Morning Sandeepji,
have a nice day

rajapvt said...

SMO: Have you back tested other numbers? Only 5 doing good or other numbers too? What number for the weekly basis works well (higher probability?) any clue?

Amol Sharma said...

IIP data today ????

Abhi said...

10Am closing would be above Hr High Ema. It has not happened yesterday.

shriram said...

@ Raja:

One can try, changing "n", but then Acc. Factor k=2/(n+1) gets affected

> the n, more Static the EMA, > the LAG, lesser the Co-relation to Latest Price

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