Wednesday, May 15, 2013

Nifty Pre-Market View.

6038-53-is the 50%-61.8% retrace. There lies 21HrSma/Wk.Pivot/34HrSma.
One part of the bounce done yesterday(38%-6021+); the second part will be done today.
OS Hour would facilitate that holding above "5985".
Prices closing above DLEma & Below DHEma points to a trading mode.
Besides prices holding DLEma less 20 points pointed to weakening downward momentum on 13th & 14th.
Having travelled in one swift move from above DHEma to below DLEma in one single day, prices, in their bouncing mode, are attempting to move towards DEma(on 13th) & DHEma (today's attempt).



34 comments:

Nilesh Patil said...

Good Morning Master & Friends

Bhushan said...

Good Morning Gurudev and friends

Bala C said...

Good Morning, Ilango Ji

NEVER GIVE UP said...

Good Morning Sir & All Friends.

DNSHUKLA said...

Good Mng Master and friends.

Janak said...

Nikkei has shot up 10% in less than 5 trading sessions!!!

San said...

Good Morning Ilango Sir and Friends

SBI Chart analysis: CLICK HERE

amber said...

Sir ILango ji charan vandan and everyone good morning

venkatapathy l said...

Namaste Ilango Sir and blog friends.

LV

saravanan k said...

Good morning Ilango sir & blogmates

Rgds
Saravanan

Dinesh Rishi said...

Good Morning Master and copy to all

ALBELA HOUSE said...

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




varun kumar said...

Good morning llango sir and my blogmates

Arif said...

Ilango ji,
Good Morning...

Prakash said...

Gud Morning Master & All Frnds

venkateshspices said...

Good Morning sir & friends

Sanjeev S said...

Good Morning to All,
Sir,

In JNSAR trading on 14/05, short initiated at 6024 S @ D 5EMA and Pivot . D 5 EMA is for 13/05 and pivot is for 14/05. So it means that pivot to be referred for current and DEMA for day before. Could i understand correctly?

JN-Follower said...

Suprabhatam Master Ilango and blogmates,

So today JNSAR being 6022, the reverse trade level would be 6022 or (6022 + 20= 6042) on NS?

thanks

Suraj said...

Good Morning Ilango Sir and All Friends

Ilango said...

@ Sanjeev S,

DEma for the day should be of the previous day's since today's DEma would be known only @ EOD.

Today's pivot has been calculated after the previous day's concluding prices. Tomorrow's pivot will be known only @ EOD.

Stockathon said...

Good Morning Master & Friends....

Nitin Kadam said...

@Master,

What would be the ideal stop for JnSAR positions.

@5922 JNSAR or 5922+20?

Thank You!!

hbk said...

Good Morning Master.. as per premkt view can we modified jnsar from 6022+20= 6042 to 6053please guide thanks.....

Ilango said...

@ JN-Follower,

Whenever prices are closing inbetween DHEma & DLEma, market is said to be in a "Trading mode" travelling between the supports and resistances. This support & resistances vary for each day but a broader range may be known based on previous "resistances turned supports" and the current resistances.

Current resistances would be from 61.8% to 80% of the last fall-6053 to 6078.

Current supports would be "Previous resistances turned supports now-5940-5971 zone.

Hence, 5940/71 to 6053-78 is the broader trading range.

Today's range is likely to be with resistances @ 6044-53 to supports @ 5985(2-Hour low).

Moving past 6016, 80% of last fall from 6026 to 5978 suggested strength @ open and prices are presently @ resistances.

Moving past resistances would be considered strength to "Broader resistances".

Ilango said...

@ hbk,

The open prices were above 6016, 80%.

Pre-Mkt suggested of the 2nd part of bounce towards 6038, 38% & 6053, 61.8%.

It is upto the individual to make up his/ her mind to trade these points.

Being a mechanical trading system, one should be firm in his/ her thoughts and act in a disciplined manner to reap its rewards.

Ilango said...

Pre-Mkt view: Read it well....

Having travelled in one swift move from above DHEma to below DLEma in one single day, prices, in their bouncing mode, are attempting to move towards DEma(on 13th) & DHEma (today's attempt).

Travelling to DHEma + 20 possibility.

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@6026 ↑
H3@6011 ↓
L3@5980 ↑
L4@5965 ↓

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

As per our GAP RULES ~ Modified/Experimental Levels
H4@6050 ↑
H3@6034 ↓
L3@6003 ↑
L4@5988 ↓

*Could not post in time due to Net Problem.
Take care of Your Trades. Bye All.

Prashant said...

Sir,
since this bounce has breached 6063, the low of 1st wave, shouldn't the fall be relabelled as corrective abc, A falling to 5970, B is on, to be followed by C

Ilango said...

@ Prashant,

This was discussed yesterday during our interaction with "divya thakor"

and "New high possibility" with "Shriram" ..

salildali said...

Sir,
Instead of larger 5th completing at 6115. the current move is the larger 5th as prior correction stopped at 5970 ( retrace 23.6 % of the entire fall )

Anand Kumar said...

Reached 80%. No sign of weekness.

marketrider said...

@ ilango sir,

good morning,

sir,
1.market 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

sir,

what is your view at this

with thanks


garaga suresh said...
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