Friday, June 21, 2013

Nifty, having closed below WLEma on 7th June, has given impulsive downtrend, reaching its critical channel support.


11 comments:

Adrian Jose said...

I would like to express my sincerest gratitude to … ... Ilango Sir,
from your guidance, great kindness and patience and
I wish to say a heartfelt thank you.

J.R.Julius said...

(F)ollow
(O)ne
(C)ourse
(U)ntil
(S)uccessful

Sourav Kundu said...

JRJ sir... beautiful.

Sriram sir, I see your point [referring to your comment on yesterday's Post Market analysis article]. To be honest with you, I do not quite understand Options other than the basic stuff. I do not understand Elliot wave too... I know there are waves and impulses and there are rules for each waves and that the waves subdivide... no more knowledge apart from that. But this is a study which I hold in high regards and I hope someday in future I start studying.

However I understand patterns and candles and see the Daily charts [provided by ChartNexus] to come up with my interpretation... which is in conjunction with JNSAR. I track Fibo ratios too... but somehow I had missed the golden ratio... probably because I have redrawn after Nifty made a new high.

My biggest impediment is my timezone[GMT-6]... I am sleeping when most of the action is happening. Whenever JNSAR is quite close to NS, I wake up by 4:45 AM... to see if there is any action required from my side. Believe it or not... this impediment is my reason for success too.

Thanks for your message, I will start taking baby steps in these studies.

This weekend there is a lot of study for me to do. Wish you a great weekend ahead.

Sujatha said...

அது சரி தலைவா அதுக்குதான் முட்டி மோதி அடிபட்டு உதைபட்டு மிதிபட்டு ஆ ஆ ஆ ஆ ஆ வலிக்குது ஆனாலும் விட்டபாடில்லை இப்பதான் பாதி கிணறு தாண்டற லெவல் விட்டா டமால் அதனால் முழுசா தாண்டற வரை விடறதா இல்லை சூப்பர் எண்ணில க்ளோஸ் நிப்டி

shriram said...

Sourav,

Was referring to mathematics behind the indicators actually.

ENTRY always on HARD No. TRIGGERS.

EW to be used in spiritual sense, to estimate MARKET MODE and for forecasting Exits. Not ideal to b used stand alone for entries :-)

rgds

Anandha said...

CAMARILLA levels worked better on NASDAQ composite as well with 2 longs and 2 shorts opportunities in single day.

Jigar said...

@Sourav Kundu..

Even I have timezone issues, not as bad as yours but I do have timezone issues, so from my past experiences I preferred to stay away from Futures and I deal only in stocks now. Not sure if you would be comfortable with this approach..

Anandha said...

@ Jigar& Sourav Kundu,

If you have time zone differences then do not try to attempt every possible move.Try to enter at wave starting and trail SL while it is moving.

For example, This month starting we enter 6000 PE @ 54 levels and then continued to trail SL till 250 and booked completely. Then again looking at the weakness of the marker we positioned again which we booked last friday in early hours as sir suggested. So try to catch the wave and can wait for a day ot two until the wave is completed.

HARISH TAHKKAR said...

Self speaking charts for your reference & decision.
Note : Keeping thum rule trading long above 5DEMA and short
below keeps you always on winning side.Divergance if traded witout
price confirmations leads to traps only.
Bottom fishing tunrs a trader into a fish at the bottom of net.
Catching a fallling knief if it bleeds,you are lucky it has not cut
your fingers.(capital)

http://prntscr.com/1bd0dy hourly.

http://prntscr.com/1bd14b daily.

http://prntscr.com/1bd1th weekly.

Monthly LH,LL (June Developing month)

San said...

BANK NIFTY Weekend update: CLICK HERE

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