Wednesday, June 19, 2013

Nifty Intraday Update-II


88 comments:

Guru - Trading Nirvana said...

INR: Day's Range: 58.625 - 58.901...so finally are we going to see INR 60.000 very soon ???

Sujatha said...

Julius - here comes hehe sir can't close the door now :D

S4 - check once again 3 high volume breakout candles frm 11.25 to 11.35 is it possible to break and give 5770 again?? just a doubt

QUOTE BY SIR - "Success in stock market comes to those who consistently follow their plans."
and success also comes from = pressing often contrl+alt+delete+ buttons to "read overly or study overly about the market" go with any very few methods..or else dont use ur brain much "LIKE ME" hehe:D

singania - convey my regds to asin too :)




Parimal said...

5800 200DMA is significant for both bulls as well as bears

rajan said...

sir,where is this island reversal gone.

Guru - Trading Nirvana said...

Suja Sis - cycle gap le lorry otturathu :P convey my regds to asin too :)

rose mary said...

38% retracement done at 5810... hope it wont cross this level again... :-)

Ilango said...

@ rajan,

Island reversal above 5730, moved upto 5863.

The correction is holding well above "5773-5772-50%-61.8%" zone so far.

If fails to move higher now, and breaks below 5752 & 5730, it fails.

There are failures in patterns too. Nevertheless, it assisted in some amount of gains.

Jay Mataji said...

@rajan
Island reversal tgt 5862,and it was achieved yesterday

rose mary said...

38% retracement done at 5810... now go and break of 5777 pls.

rajan said...

dear sir thanks for your kind reply.regards.

J.R.Julius said...

@Sujatha,
Good Afternoon. Welcome.
என்ன ஒரு திறமை!

Sujatha said...

guru - cycle gap-la "naanga oru boeing 707" oottuvomilla hehe ok rupee touches 60 means "r u gng to celebrate sashtiyapthapoorthi" for nifty hehe lolz.(lollu thana varthu..yenna seyya yedhukudhan class pakkame varadhilla) pona poguthu cycle gapla vandhirukken - just give one volume breakout @ 5815/23 nifty future

Island reversal gone to "andhaman nicobar" :D

satheesh said...

Namaste Ilango sir and all,

Sir my few cents:

As far as my observation goes, JNSAR whipsaws only during 4th wave. The current one being a 4th wave - managing Day JNSAR with TA parameters is a must. For Eg.,yesterday J10SAr was 5848 and not even a single hour closed above 5848 - yesterday's high was 5863 - during the last hour and 100 DMA was 5877. The importance of 5870 was made clear by Sir earlier as it is the end of the i wave which should not be surpassed by the ivth wave. Last hour saw a rapid fall upto 5800 - which proved that 5860-70 being a huge resistance.

Today again there is a possibility of JNSAR being trigerred at above 5811 - if it is the c of the ivth wave. again there would be confusion of whipsaw.

As far as my understanding goes I would sell near 5870 levels unless it closes above at EOD. and book out near 5770-5800 support level.

Currently I am short from 5850 levels partially booked at 5790 and still holding shorts.

Manish said...

Goodafternoon master and all friends,

"c" to come as per you."C" wave is always have characteristic of an impulse...
which is not visible as of now...

Please clarify.

amber said...

Sir ILango ji yesterday sent you a mail , when time permits kindly check thnx

Ilango said...

@ Manish,

From 5778 to 5810, it has done a clear 5 waves. It must hold "5790" for further upsides & impulsiveness to continue.

If moves past "5811-14", more strength to it & waves are sub-dividing.

Abhi said...

I think this is a critical time. May be vth started yesterday OR may be the fall was correction and a new upmove will start.
now < 5790 ns again make nifty weak.
> 5830 ns there would be strength.

Renju S said...

Ilango Ji,

Can we say that a 3 is done from todays low in 2 minutes chart?

Thanks,
Renju.S

Ilango said...

@ Renju S,

Yes. It could also be counted as "3" from the lows.

Renju S said...

Ilango Ji,

When we spot 3 and 5 waves in a given time frame..which wave needs to be given importance?

Thanks,
Renju.S

kemps said...

Ilango Sir,
i want to post my comments
about the market..
Pls approve my id..
Regards,
kemps.

Manish said...

thanks master....

satheesh said...

A small bearish flag in 5min NF charts - breakdown below 5790 NF

Ilango said...

@ Renju S,

Just playing the "3rd wave" is the most rewarding with small risk as the 2nd wave often retraces a lot except during a strong trend during which it could either be a running or a small flat correction.

But in smaller T/F, it is quite a challenging task unless you are well experienced.

STOCK4SURE said...

Sir

if ns could not sustain abv 5813-20ns then in 30min nifty charts a bearish crossover nay take place b/w 21ema and 55ema.i.e 21ema line may cross below 55ema line soon
cmp are 5811 and 5808 respectively
when last time such crossover took place nifty fell more than 400 points
will it repeat again??
tonite being fed policy meet..........t

Ilango said...

@ Renju S,

If there is going to be a 3rd wave, the 1st being 5778 to 5810, then "JNSAR" is well placed @ 5811 to take advantage of the gains.

If it was part of a corrective bounce, JNSAR has protected the shorts.

"5811" is playing out its importance.

Ilango said...

@ STOCK4SURE,

Last week's close was below "WLEma"; if Nifty is kept below this week's LEma, such a possibility becomes a reality.

Parimal said...

Renju
if 3rd has started, JNSAR may not whipsaw? am i correct?

Renju S said...

Ilango Ji,

You hit the nail on its head...need to bow before the knowledge and exp..5811 that was my next question after the 3 and 5 wave question.

Thanks,
Renju.S

Renju S said...

STOCK4SURE Ji,

Great finding. Week trend will help it more.
Hope Mr.Ben acknowledges our findings.

Thanks,
Renju.S

Renju S said...

Parimal Ji,

Yes, chances are less. Have not tested it..

As you just heard / saw what Ilango ji wrote "Just playing the "3rd wave" is the most rewarding".

Thanks,
Renju.S

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 1:00PM, Pivot-5827, S1-5786, R1-5853, ATP-5794, VWAP-5794

Equally distributed writing till now with major concentration at 5900CE and 5700PE with 5800 working as a Pivot, range bound movement seems more appropriate right now…

Thanks & Regards

Jay Mataji said...

And if it is 3rd of (iii) it may hurt very hard

Renju S said...

If market close's below 5800 / 5770 EOD, STOCK4SURE ji chances of your finding coming true is on a high probable note.

Thanks,
Renju.S

Jay Mataji said...

Jnsar Said short,Overbought In hourly, and also 3(iii) down we are in playing than why worry about short???

Parimal said...

Renjua
21ema and 55em on 30mnts chart is already in place

sarvesh said...

blind trust in the system is the foremost requirement. though i am short but should have added shorts near JNSAR. dint do that and lost oppurtunity

Ilango said...

1.00PM TT & Chart Updated.

Renju S said...

5790 breaks down...for further downside...Rose mary ji...chances of your wish 5777 is good.

Thanks,
Renju.S

kemps said...

Elliott wave shows so many possibilities regarding wave count. So i have kept 5957 as the stoploss for shorts to protect from whipsaws.

Ilango said...

@ kemps ,

Is that all your contribution....

To take a dig at EW....!!!

STOCK4SURE said...

a small +WW developing

pt5 may form near 5783-86 range(or already formed)

may move up towards 5804 near 2,00pm

Ilango said...

Try to contribute constructively.

Don't attempt to "undress" anyone.

rose mary said...

Sateesh,

What is invalidation for bearish flag triggered below 5790 NF?

Renju S said...

Kemps Ji,

How can we justify 5957 as a SL for a position taken at 5811?

If we do that we are against our Money management and Risk Management principle.

I guess if we have couple of trade that are not favorable to us with these type of SL...we may be soon out of the market.

Thanks,
Renju.S

Renju S said...

@Parimal Ji,

Yes, you are right..21 and 55 EMA are in place.
But the foundation will be more extra solid if we can have a EOD closing below 5800/5770.

Thanks,
Renju.S

Jay Mataji said...

@MASTER,

In a hourly which indicator and parameter are good for trade??
Means RSI ?, Stoch? MACD ?

Tushar said...

Hello Seniors,
5600 PE has added 10,94,350 open interest today since morning.
How we can read it?
PLease guide.
Thanks

satheesh said...

@ rosemary,

above 5815 NF

deepak pinto said...

Sir
Intraday
irregular triangle ending at 5785
Hns left shoulder top 5808

So
------<5785> NO TRADE<5808>++++++

Parimal said...

Sir
i am confused, there are 2 cotradictory indications: a) 3rd wave possibility, b) JNSAR short?

Nilesh Patil said...

@S4S,
Pls give your view of ww on IDEA day chart.

kemps said...

@ Renju S
i took short posion at 5900 when weekly system gave short signal.
I closed half of the position with profit at 5700 level. Now i am holding half with stop 5957.
This is the 6th june nifty candle.

Renju S said...

Jay Mataji ji,

When mixing oscillators RSI with trend indicators MACD or ADX, I always remember John Murphy :)

"A rising ADX line favors moving averages; a falling ADX favors oscillators."

Use the indicators in conjunction to arrive at a safe entry / exit point. Just like we use SAR, EW and Fibbi.

Thanks,
Renju.S

kemps said...

@ Ilango Sir,
i find it very difficult to label the waves as per elliott theory. That is why i follow your jnsar weekly system and daily candlesticks for entry and exit.

Ilango said...

@ Parimal,

There is a 3rd wave possibility on the upside if "5810" breaks;

and

There is a 3rd wave(iiird of (v)) possibility on the downside if "5778" breaks;

ITradeForProfit Daily said...

With the NF remaining consistently below NS, isn't this is clear case of shorts being built up in the system? Also FIIs are consistent nett sellers in the cash markets since last few sessions. Think over this.

Renju S said...

Kemps ji,

My mistake / apologies. I thought about today's trade rather than the weekly one which you mentioned.

Thanks,
Renju.S

Parimal said...

Thanks Dear Sir for the kind response,
so these two levels will also subsequently decide the fate of 200DMA.

suresh said...

bn if > 11821, has the probability
of touching 11850/60

Renju S said...

@Parimal Ji,

Nifty is now like "Cat on a Wall" waiting for Mr.Ben to shoo away...It depends on the impact of shooing away ... will it jump on to the next floor or fall to the ground floor.

Thanks,
Renju.S

Renju S said...

So either way when nifty decides....it will be in platform number 3.

Kiran said...

Tata steel bulls - very furious.

Sujatha said...

renju - ben uncle will shoo away @ night only before tht mkt close :) i am in first floor let me try to catch the cat with "catwalk" ofcourse thro my balcony...tight range bounddddddddd mkt watch crude it also in the same place

satheesh said...

Ben uncle - whichever way he sways - JNSAR and TA parameters are there to guide and protect :)

Guru - Trading Nirvana said...

Kiran - To my eyes I am able to see some -ve divergence in play...

Renju S said...

Sujatha Ji,

:)

Catch it, but who will bell the cat?

Thanks,
Renju.S

Renju S said...

BM,

Is there any way to see Hourly chart?
I see only 2,5,30, daily and weekly on google.

Thanks,
Renju.S

Sujatha said...

satheesh - ofcourse.. who's following all these here @ JN..:D hope nobody

renju - me only hehe

bye

J.R.Julius said...

Aggressive L3[BUY]@5797 from 9.35am still not reached
STOPLOSS price@5777 or PARTBOOKING Price@5817!
What a Day?

Ilango said...

@ Renju S,

We observed the 5778 to 5810 as 1st wave having 5 sub-waves;

It corrected to 61.8% @ 5790 & a bit more.

To play the 3rd wave, the low-risk-high reward is "to enter @ 61.8% retrace in the 2nd wave" & follow it up.

Amol Sharma said...

next 45 min trade look imp for bulls and beers fight for bull.

Guru - Trading Nirvana said...

@Julius, Part booking number should come now hopefully :) or stop loss ?? :) yenna kodumai saravanan!!

chetas said...

open high same for 2pm NS candle, so far at 5806.25

Anandha said...

@ Julius sir,
This is called trade avoid day.
:)

Renju S said...

Ilango Ji,

Thanks for the wonderful lesson.

Thanks,
Renju.S

suresh said...

bn mow likely to fall to 11760 if < 11815

Anandha said...

@ajay choudhary,
Apologies for delayed response.
Nifty crossed day JNSAR 5803 today mroning around 11:35 AM,But they way trade is happening today, I like to be away from Market. Lets see how it ends today. Zig Zag day where I like to see volumes adding up in one direction. I did not see that today.

shriram said...

G.Afty Master & JN Family,

NS flirting with WkLoEMA / Dev.DEMA

OTM PE OI have shown highest intra addition , though highest abs. OI is @ 6000CE

Both options open per EW:

Bulls will live > 5865 NS
Bears will enjoy < 5770 NS (prev swing low on Hr)

Have a gr8 day !



Renju S said...

Did i hear a CLAP sound?

Thanks,
Renju.S

sarvesh said...

@anandha..jnsar for today is 5811 and 5803 for tomorrow..

Anandha said...

Everytime I read any comment from Ilango sir, I go back to those days when I was 5 to 8 yrs old, where our teachers took atmost care while they teach us with intention of creating interest in learning. The patience and care taken by master resembles the way I was tought in my childhood and becoming good day by day in learning and analyzing the stocks.

@ Shriram, S4S,MarketMan,

Still many mebers are not able to understand the patterns you people poste here. It will be helpful to everyone if you can post the charts forming + WW or -WW so that every one will be looking at possible formations and moves.

Thanks everyone.

Anandha said...

@ Sarvesh,
You are right. I just over looked. Thanks for correcting me.

J.R.Julius said...

@Guru,
:) Yes.................. Finally........
Nifty - Good Boy

Karthikeyan S said...

@Anandha,

You mean the volumes in the options?

S.Karthikeyan

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