Friday, June 21, 2013

Nifty Intraday Update-III


Anandha said...

Trail SL our CAMARILLA shorts,
Scenario #3 may come into picture if weakness continuous. Trail SL and see Nifty breaks below L4 as well by EOD

The_Unprejudiced_Observer said...

@ Anandha
Good Observation.
I think this is to be expected as Cami is essentially a counter-trend strategy.
Such observations also helps one fine-tuning as to which system will become more worthy at what time.

Anandha said...

MCDOWELl is moving towards END of Wave A with 5th Wave completion at around 2210-2230

Nitin Kadam said...

Trade Plan Update:-

Support Zone :- 5615-5620 | Low : 5624 Almost Done.

If Booked :- Stay Away.

If Holding :- Keep TSL to take max. gains.

As Trend is down New Low Possibility Still Exist.

marketrider said...

@ ilango sir,

below 5617 red iii complete
i)6134 to 5884
ii) 5884 to 5972
iii)5972 to 5683
iv) 5683 to 5863
vth of red iii below 5617 ( it make 5 wave 5686 to below 5617)

sir, give some light.

with thanks

Ilango said...

In lower T/F, many EW possibilities exist.

Especially during strong trends, it is challenging and distracts the trader from the main trend.

Preferable action would be to "merge TA divergences" and co-relate them. Eg. Todays support & bounce possibility to 5683.

Ammolh said...

5 Day MACD & RSI turned up from Oversold Zone....!

Guru - Trading Nirvana said...

@Anandha / Julius - how about 3rd run up after l3 again :) overa asai padurana? :P

Ankit Solanki said...

@ llango,
One query.

In such a scenario where nifty is showing a clear 5 waves down and the general market breadth being low & at the same time nifty not retracing 5477 in faster time. What shud be given more weight? The structure and momentum being shown or the faster retracement criteria?
So this is impulse or corrective?

Pls enlighten.

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.

Nilesh said...

smart money started selling 5600 calls also o.i. rise by 16 lacs

Ankit Solanki said...

@ llango,

Thank you :)

shriram said...

if we dont see a new low...

the chances of bumping 100 pts up again will gain , looking @ intra 56 PE OI adds

Ilango said...

Weekly channel support has been tested @ 5615-25 zone twice today.

deepak pinto said...

prices at closed at 48.
trend is down .
hourly close went above hhema 78 and closed previous hour.
so set up is short between 54 lhema and 64 5hema
for target of 50 points with 5680 stop.
this is an observation.

Ammolh said...

It will form a Doji after A huge fall from yesterday, if today market will colse near by 5650 approx...

Sentiment holding market ?

Nitin Kadam said...

Trade Plan Final Update:-

Support Zone not breaking .

Book Profits. ( 5675-5625 = 50 Pts )

As Master Say's

Happy Weekend To ALL.

Anandha said...

@ Guru - Trading Nirvana,

Due to time constraint we have, even if run up from L3, we may see up to 10 - 15 points at max or till 12 EMA on 2 minute time frame. Selling may be seen again at those levels of 12 EMA/34 EMA on 2 minute / 5 minute time frames. So personally, I do not take risk unless I'm clear about the possible wave move. Nifty is still in down trend. CAM Levels helps to initiate trade at good price. But when trend does not support we may get hit by SL.

Guru - Trading Nirvana said...

@Anandha - I agree with that; but after the fall 14.10 candle showed me something else in the store.. so was kinda tempted :)

Hitendra said...

BN 100 point+ in a minute

The_Unprejudiced_Observer said...

Possible Targets for larger 3rd wave:
Wave1 6229..5937 292
Wave2 5937..6134 197
Wave3.. 5369.. 262% of W1

Waves within waves:
i of 3..6134..5884..250
ii of 3 5884..5972 88
iii of 3 currently running for 5567..162% of i
or 5317..262% of i

(i) of iii of 3...5863..5778 85
(ii) of iii of 3..5778..5828 50
(iii) of iii of 3 5828..5617 211
(iv) of iii of 3 5617..5683..66
Likely v of iii of 3 (meaning iii of 3 to end at
5598.. 100% of i of iii of 3 & 127% of (iv)
5545.. 162% of i of iii of 3 & 262% of (ii)
5576/5583 .. 162% of (iv) /(iii - iv)*61.8%
5522..(iii - iv)*100%
5471..424% of (ii)

Hope this will help in finetuning the waves.

STOCK4SURE said...


A small +WW developing in NTPC charts

trgts near 156-158 range in 10-15 sessions

does it match with any EW pattern

also i guess its safe longs as downside is not too much being near lows and a low beta stock+PSU

saz said...

today market is acting like month closing......whipsaw day for me, the point is my short SL triggered at 5682NF exactly high point.....
no probs wonderful lesson learnt.....


u.k.Raj said...

drunken monk............

Anandha said...

@ Guru - Trading Nirvana
Good. Worked out this time.

@ Shriram ji,
Good thought, Nifty pulled back almost 55 points( half of what you expected ). Is it bcz ww formation between 1 PM to 3 PM ?

STOCK4SURE said...

a small contracting triangle developing in 5min 3 day charts....tested upper T/L at 5679ns ,now may move towards 5636 but as of now seems will come on monday

shriram said...

@ S4s: will see & let u know tomo, a bit outta time today

@ Anandha : based on 56PE PCR, cant see a +WW

Bye all, happy wkend!

chetas said...

avg closing at 5664- 5666 level

Anandha said...

@SToCK4Sure, NTPC looks completed its 5 Wave down at around 138 levels. I was short at 151.50 till 140 levels.Now long from 138 levels in next month futures. Stock may move now till upper end of the channel. Ilango sir Labeling on Nifty charts made me to clearly see the waves in which stocks are moving. 147 may be possible.

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