Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
53 comments:
@anmpatel,
This is due to MASTER has changed comment settings to "MODERATED"
So every comment which anyone publish will only get published after approval of MASTER.
This may have decided by MASTER to prevent TIPSTERS and also to PREVENT this BLOG from "DUKHI ATMAs"
Hope you got it.
@Master,
Sir I request you pls consider changing the commenting system to other available systems like "DISCUSS"
There are very good options for moderation.
Cheers
SAM
@Master,
Pause in downmove may be above developing month/day low ema. am i right?
@Master,
Even you have option of appointing Moderators which can block the SPAMMERS either in your absense or in your presence... which will decrease workload on you.
In 2 and 5 min chart there is a trend line points 5616 and 5596.
Observations pls?
TIA,
Renju.S
Hi Ilango,
I have been on this blog for quite some time. I have a small request to you + all regarding usage of the JNSAR wrt to Options (Call/Put) buying.
Basically JNSAR trading methods typically suits much for NF trading (my view, could be wrong). So wanted to know your thoughts and others experience regarding usage of JNSAR for Option trading. Any disciplined steps used for a profitable Option trading.
Hope you would find some time out of your busy schedule to put few thoughts on this and pen few strategies on my request.
Waiting for your thoughts
Your long time student
Prakash
GM Master & JN family,
55PE OI adding intra, 57CE highest O/s I
looks like we will expire range bound
Namasthe ilango sir and friends,
Today’s quote received :
No one is perfect. That’s why pencils have erasers.
Write happiness with pencil and remove sadness with eraser.
@Mr.Prakash,
http://tradeinniftyonly.blogspot.in/2010/12/options-powerful-tool-to-be-used-with.html
Best Wishes
@ prakash,
JNSAR for Options Trading
BN retraced 93% rise from 10929 to 13317 ... so which levels we look at to arrive at fibo retrace for BN?
@prakash,
Option trading is a very strict game where margin of error is very thin. First of all trader should mark his entry and exit points. I will recommend Day-Camarilla levels for intraday and Week-Camarilla levels for daily trading. Trader must look at nifty futures and then decide to book entire profit once you achieve your target. Even if target exceeds do not run after that.
You can not use trailing stop-loss method as this will take most of your profit. Also you are running against time-decay so one has to be swift while moving in and out of option.
I am following this option buying and I try to be out of market when I am not sure.
Master I have one query.
The last rise from 5477 to 6229 was not retraced in faster time in this downmove. Does it indicate that this entire downmove is corrective?
Or, that there could be exceptions to this requirement of faster retracement?
Your views would be very helpful in this regard. Thanks.
Thanks Ilango and Julius for quick response... will digest and put to use and share the live experience... soon in the coming days...
Namaste Ilango Sir and all,
CLICK HERE Tata Motors Wolfe Wave Chart
CLICK HERE TATAMOTORS H&S CHART
CLICK HERE TATAMOTORS HOUR CHART
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5591, S1-5554, R1-5625, ATP-5590, VWAP-5590
Highest addition at 5700CE and 5500PE, seems like 5600 is playing a Pivot, Probable expiry around 5600 is in the making…
Thanks & Regards
finally a +WW on BN 5mins
Needs to hold 11,090 spot for bulls to have hopes for a 1-4 bounce to 11,200-250
gm master julius sir dr ji n all
Namaste Ilango Sir and JN Family
Ilango said...
Last major rise was 5477 to 6229 which took 26 days.(172 Hours)
The current fall from 6229 has consumed 25 days.(171 Hours at 1.00PM)
Not retracing the last rise in faster time would make it a "Corrective" and bulls would attempt a come back.
There are two zones, this attempt, could emerge.
1. At weekly channel 5615-25 - is happening today.
2. At monthly channel 5540-50, in case the above fails to hold next week.(Last week of the month)
June 21, 2013 at 12:43 PM
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Ilango said...
There are no rules to market's price action.
We attempt to " view it with some guidelines"; market could milead us for a while as corrective but could head lower later.
These guidelines should be considered at such junctures for a possible "pause" (Or a reversal).
Price is supreme and that should guide us in major decisions.
June 21, 2013 at 2:44 PM
@Shriram,
Think of Angel and the Angel is there. about to ask you reg BN spot. 11115 been broken and based on chart it appears to reach 11023-55 if BNS not bounces from here.
And if the bearishness continues then BNF targets seems to be @ 11055 and 10904 (both previous supports)
On a Monthly T/F, chart shows a scary downside picture for BN. Your views please.
Thank you Master for your continued guidance !
a small contracting pattern developing in ns 5 min 2 day charts
may move up towards 5610ns to test upper t/l of triangle pattern
cmp 5584ns
@ Prabakar:
2 thing:-
1. My analysis is with BN spot, not BNF
2. the view was for expiry which is 2-3 days t/f
So, on the MT while as u say the TREND is firmly DOWN, from a trade perspective as long as 11,090 spot holds, best R_R is to write 3-5% OTM PE wid 1/2 prem. SL
simple game, if works will give 50pts, else SL pop is 25
5607 (80% of 5616-5570- as of today) not crossed.
below 5598 (61%)/5593 (50%)-> new lows to be made for the day - below the supporting 5583 ?
CMP (after touching 5607->5605).
ns towards upper T/L of triangle
cmp 5608ns
Thanks Sriram. Your views are alwasy valuable.
@Shriram - Have a question for you: Can one view Points 1-5 of WW as corrective action against on-going trend of higher t/f?
If so,when Point 6 is achieved, can one say that the higher t/f trend has reasserted and hence targets even higher / lower than Point 6, are likely and tradable?
@ Prabakar:
1st Tgt done @ 11.2k spot ...
intra add @ 55 PE OI is highest ... the best part is to find a Hiprob Entry will allows to trail the position > Cost+TAx + Brok,
After that if TREND BLESSES, its a bonus, @least we never lose capital :-)
abv 5612ns
at upper T/L of triangle pattern
probably may give a false b/o towards 5624 ns levels and then may fall again to retest lower T/L of..triangle pattern near 5580-85 range....
gone above 80% of last fall, as mentioned by Master yesterday.
ST oversold with +ve divergences have held previous low of 5566.
Bounce off support zone of "5565-75" is being assisted/ boosted by global recoveries.
A close above 5712(HHEma) would give a firm reversal in hour T/f & it must hold 5585.
5612
is ns forming a busted pattern in 5 min charts?????
when nifty trade in triangle pattern and gives a false b/o to form pt5 then this pattern sometimes behaves as WW pattern with trgt at line joining pts1-4 and time where two lines meet
if thats the case then implications of this pattern may be very bearish till tomorrow.
also a near channel is forming B/W 5566/70 and 5616ns levels
@ IndieTech:
getting impatient to short ? :-)
Guess the best way to view on BN is :-
once pt 6 on the +WW (tgt) is done @ say 11200-300 range, take a look @ DloEMA / WkLO RES zone basically & also check if the Intra T/f Oscill (on the t/f in which this bounce emerged), has suddenly gone to OB
If yes, then it wud be ideal to short... or sell OTM 5% CE
Stock$sure,
Whats the invalidation point for the same.
@SJ
probably may be 5625 or 5630 the first points for
triangle pattern
@Shriram: On the contrary, itching to buy :) Let me say why: If the 2min BN is showing +WW, then, according to my question, it means that 5min / 10min trend is up and is reasserting. Which could mean that there could be more steam to the pull back...
I understood your point of looking at DloEMA / WkLoEMA - but, for intra-day trading, does the above logic appear ok?
nifty following recovery in Hang seng and chinese markets
taiwan getting weak at days low now
Nifty Spot
H4@5631 ↑
H3@5611 ↓
*Individual Observation and Independent Decision Advised for entry, exit and Stoploss.
@ Indie..
True.. TREND may kick in > 11,300 and show 11,500-600 BN..
but since MT is firmly down, ideal buy zone was the sweet spot of the +WW near 11,120-150 1 hr ago (was also DAY channel support zone)
Now may be risky from R_R angle for Intra-play
@SJ sir
if its a clear B/O then may trgt 5612+63 pts-=5675ns levels
Thanks S4S
holding above 5625 would only give bulls strength
fingers crossed...
reversed sl to 5625 low ema....
let the river flow....
will go along....
Dear Ilango Sir and blog mates,
trying to understand comment above mentioned by you
A close above 5712(HHEma) is about eod basis today or it is valid for tomorrow also if it hold 5585
thanks a lot sir
ni3
Nifty touched ND Sir's ATR Sell zone.
NI3
it is actually 5612 Hrhema. hourly close
Sanjay :-)
Wow .. what a good bounce ...now I light on long positions...
Thanks NIfty...
Thanks lot @ cooldent sir understood
NI3
Master,
EW eyes,
this bounce to be seen as a retrace to 5863-5567 ?
New Post Done.
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