Friday, May 17, 2013

Nifty Pre-Market View.

"Don't aim at success - the more you aim at it and make it a target, the more you are going to miss it. For success, like happiness, cannot be pursued; it must ensue... as the unintended side-effect of one's personal dedication to a course greater than oneself." - Viktor Frankl.
What is your personal dedication to? How passionate are you about it?
Can you keep your mind off the end result and focus on the joy of pursuing your passion only?
Start with small acts in your pursuit of your chosen passion. And have patience.
The intraday correction has brought Nifty from the rising channel top to its bottom. Whenever it breaks this channel, a correction would be on and its retracement & holding of larger channel would have clues about the continuance of this uptrend.



40 comments:

Parminder said...

Master ilango and friends,
Good morning to all
Regards

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Dinesh Rishi said...

Good Morning Master and copy to All

Ding A Dong said...

Good Morning friends...

Have a great day...

Suraj said...

Good Morning Ilango Sir and All Friends

DNSHUKLA said...

Good Mng Sir and friends.

San said...

Good Morning Ilango Sir and Friends

DLF Chart analysis: CLICK HERE

NEVER GIVE UP said...

Good Morning Sir & All Friends.

Bhushan said...

Good Morning Gurudev and friends

amber said...

Sir ILango ji charan vandan and good morning everyone

Arif said...

Ilango ji,
Good Morning...

Prakash said...

Gud Morning Master & all Frnds

rama balaji said...

GM Ilangoji & all blogmates

Parimal said...

Namaste Dear Master and all friends
Have a nice day

dev raj said...

Good morgning Master and blog friendgs.

rochak parekh said...

@sujatha

no see, sis

seems, u got lost into the shine of yellow metal

busy buying in tons and tons of it

OM SAI RAM

Kiran said...

More information on IIB.
http://capitalmind.in/2013/05/inflation-indexed-bonds-in-india/

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@6202 ↑
H3@6186 ↓
L3@6154 ↑
L4@6137 ↓

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

Abhi said...

Sir, below last 2 hrs' low 5158, some shorts can be initiated ?

mynac said...

GM Everybody,
NF Premium came down from 7-8 points to 3-4 points today in first 10 min. trading...one may watch it... Bye everybody...

Pattern Trading said...

Good morning master and all

Bajaj auto may target 5 week low ema 1775

deepak pinto said...

Sir
If this is a diametric the I is now unfolding towards 58 but should not break it before 88+ Is seen.

VK said...

Ilango ji,
steep channel break and then re-entry into it would mean fifth wave of the last upleg from 5970?

Stockathon said...

Good Morning Master & Friends...

Renju S said...

ORB, Pivot and channel break will allow nifty to correct a bit.

Jitendra Mishra said...

respected sir llango pls guide me if correction tk place what will b first sign to watch for ad what else to b seen for its confirmation

Parimal said...

BN: a 5wave correction on 5mnts chart is unfolding

marina s rao said...

Good Morning to All

Ilango said...

Correction: 6185 has been challenged few times and selling, minor one, emerging is correction.

Prices closed below HHEma is hourly onset of correction which generally takes prices below HLEma. Failure to do so would imply continuing bullishness.

Hourly emas may be used for "Intraday trading" or even for part booking.

Only a close below DHEma(presently @ 6146) will lead to "days of correction.

Renju S said...

Ilango Ji,

Can we confirm now that the lower channel is broken at 6158.

Jitendra Mishra said...

thank u llango sir for your guidence how to follow the market at this level thanks

Pattern Trading said...

S&P500 has reached channel top .....
Please find chart from one of very good elliot wave analyst


1:
http://4.bp.blogspot.com/-uvd8UdkYFeA/UZVjKsxMt8I/AAAAAAAAVW8/gTBzXhKl8nU/s1600/spx2.png

2:
http://4.bp.blogspot.com/-T_YFc96fW00/UZVjbZ3k4XI/AAAAAAAAVXE/2bcNfIvGQs0/s1600/spx3.png
3:
http://3.bp.blogspot.com/-7moqQAUJ22I/UZVjkAtvOtI/AAAAAAAAVXM/8dXQnLGuRZg/s1600/spx1.png

If master allows then i will post the link for blog or you can search for daneric's elliott waves on goolge

Piyush Sharda said...

@shriram/stock for sure/other wolfe students

can this be bullish wolfe
1 6187 2 6185 (11 am 16/5/) 3 6154 , 4 6188 5 6154

Anandha said...

@Julius sir, Wonderful information shared on how to use CAMERILLA levels.Today shorted nifty at 6185(Immediately after coming below H3) and covered at L3 gained 30 points.Took long immediately crossing L3 above at 6158.Also went short&long in options.Can we again look for 6180(h3) now?

Anandha said...

@Julius,
Hope you are back from vacation and everything is fine.
Keeping all my TA, I like to trade strictly with your CAMERILLA levels to see how it works. Just trading with levels on price moment.Lets see how it works for the day.

Ilango said...

@ Renju S,

Combine it with Hour TT positioning of price reaching below HLEma, there will be attempt to take it back to HHEma.

One way move is possible only if the higher T/F is in sync with lower T/F.

Day-UP
Hour-"Sell on rises" - such a set up calls for trading supports & resistances.

Shainks Dude said...

This is a great piece of knowledge. Thanks for the Update over Nifty. I hope it would be fruitful for me.

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