Friday, July 19, 2013

Nifty Intraday Update-I


Ding A Dong said...

Hello Friends,
My Nifty Intraday Trade Plan @ Jul 19, 2013

VWAP / LTP @ 09:30 - 6041

I Buy @ or Above – 6066
Buying Stop Loss – 6045
Buy Target 1 – 6081
Buy Target 2 – 6101
Buy Target 3 – 6120
Buy Target 4 – 6140
Buy Target 5 – 6159

NO TRADE ZONE – 6045 to 6065

I Sell @ or Bellow – 6044
Selling Stop Loss – 6065
Sell Target 1 – 6029
Sell Target 2 – 6009
Sell Target 3 – 5990
Sell Target 4 – 5971
Sell Target 5 – 5951

Buying with up trend and selling with down trend at 2min chart.
Entry is based on next 2min candle close above/bellow the entry price.
Trading with even lots as 1 half is for Partial Booking & Trailing Stop for rest.
Closing the trades based on Targets, SL or EOD, which ever comes first.
Options trading based on above table is subjective.
System only Hints! Price Act + YOU React = Trade
Nifty Spot Values & No Fresh Trade after 3 PM.

Wish you all a good trading!!

Ilango said...

(4)th wave unfolding:

a:6067 - 6036
b:6036- 6058.45( or a bit more
c: pending.

Anandha said...

Sir, What is the possible high of B in a cycle. Can it go above the peak of i st wave in A ? If we see in Nifty. B wave crossed the ist wave ( 5937) of A. We have rules for 1-2-3-4-5 waves and their moves. Dont we have any rules for corrective waves except the Zigzag/flat/triangle patterns? Is it possible B retraces entire A and moves above it ?

Ilango said...

@ dharmu mishra,

It was expected to end "around 6060" and within few seconds of opening, it showed 6067 & stayed below 6060.

We can estimate an "action" but the numbers could vary a bit.

As we always emphasize, "Direction" is important; once known, rest is easy.

Ilango said...

@ Anandha ,

"B" waves in a flat moves above "A" wave top as in an "Irregular flat".

"B" waves also moves past "A" wave top in "Running corrections".

"B" waves move past "A" wave top in certain triangles.

"B" waves move past "A" wave top in an "Ending diagonal".

Anandha said...

Sir, Sorry for many questions.
In case if B wave closes above start of A wave. Then, Could C be a sharper one? Is it possible for C to complete the move almost around 2nd or 4th lows ? Should C be such a sharp move in these cases ?

vksoni said...

ilango sir from 6067 to 6036 a 3 wave. from low next 5 uunfold

Prabhanshu said...

Sir, c can be completed again at more than 10 points? And then 5?

Renju S said...

Too many wave counts and labels..getting bounced of my head...really a tough job to understand and plot ew points..

Ilango said...

@ Anandha,

If you fill your head with so much, you'll not hear the "evolving markets' showing new tricks".

You will be like the older generation stuck with their forefather's life style, traditions & so on.

Prabakar said...

Namaste Ilango Sir & JN Family

Ilango said...

@ Renju S,

I remember looking at my elder brother's B.Sc.,zoology book & wondered how ever such things get into any one's head when I was in "school".

But when I entered "college", it was a child's play.

You can't feed a child one full tandoori murg but a grown up devours many.

Only way out is "expose....expose...& experience".

Ilango said...

@ vksoni,

Yes. And it should happen soon.(protecting preferably 6031; if not 6021)

shriram said...

GM Master & JN Family,

Dev.Dhi @ 6023, time to apply Bell Curve Maths

68% confidence zone for Days top is 6070-6110 NS

Have a gr8 day !

D.S.SASAN said...

Good Morning Ilango Sir and blogmates.
Really enjoying ilango Sir's explaining to every student.

dharmu mishra said...

respected llango sis thanks for clarification ad guidence thanks u said yestuday when u go in the deep levev of concentration world movement becomes slow for u ad it becomes easy to understand great practical tip sir this shows u can not only teach ad guide people in trading but also in the path of liberation through meditation sir guide sometime thaks ad i m honoured to know a person like u

Prabhanshu said...

Sir, can (b) of (4) can go high above high of (3)?

dharmu mishra said...

respected llago sir typo error by me its sir not sis pls ignore that ad im sorry for that

vksoni said...

ilango sir intra weak below 6048 ?

Ilango said...

@ Prabhanshu ,

Because the opening high was swift, I did not consider (4) b moving past the high. (But it was a possibility)

Anandha said...

@ Ilango sir,

Sir trying to learn new moves & tricks of market. Your help makes me to learn quicker and clear doubts in mind. :)

Prabhanshu said...

Getting support at 6048-6050, need to break this to complete (4)(c)?

Pattern Trading said...

Good morning master

Charan sparsh

Good morning frns

Ilango said...

@ Prabhanshu,

(4)c can be sideways too. (Need not go to "a" wave lows)

Correctives are complex. Have an open mind.

Iris said...


With Elliot wave trading looks very easy.
Earlier I had traded and incurred losses because the trades were based on intuitions and noises. But now able to plan my trade with wave count.

Still finding problem in judging the new unfolding waves by self. specially the minute ones and doesn't able to figure out when the wave has ended or possible targets.

Pls keep guiding us and enlighten us for above points if time permits.

Trader Junkie said...

6055-6060 approx 73% of the big fall from 6200 retrace to 50%-61% of last rise from between 6030-6020 !?

A aggressive very short time-frame short ? Camarilla triggered early morning at 6055 approx !

Trader Junkie said...

i mean - 50% and then 61% of yesterday's rise come to 6030-6020 range...

anmpatel said...

good morning to master and friends

can we creat some formula with help of maths a Bollinger band around 34hrsma for profitbooking. means can we have any avg price bands that this is the max distance from 34hrsma? hope I explained my Q!!!
and pl explain in some easy language! !! I am layman in maths.
thanks in advance.

anmpatel said...

good morning to master and friends

can we creat some formula with help of maths a Bollinger band around 34hrsma for profitbooking. means can we have any avg price bands that this is the max distance from 34hrsma? hope I explained my Q!!!
and pl explain in some easy language! !! I am layman in maths.
thanks in advance.

shree said...

c; pending...where should it expected to end?

shree said... 6056-29=6027???

Ilango said...

@ shree,

Normally around (4) a bottom - 6036 around ; preferably above 6031-50%.

Below, I start to have doubts as this (4) has taken almost 2 hours.

Ilango said...

We have said enough on these "2-min EW waves".

Follow up & act.

bb said...

Yesterday someone mentioned BHEL is in 3rd wave and today it is back to square one.

shree said...

any invalidation for this c pending????

Sandy said...

Yes Ilango it has completed even time taken by 0-3 waves. If it doesn't move up soon a larger structure was perhaps complete.

shriram said...


if ONE wants a Bollinger (2 Std. Dev) around 34hrSMA

simply choose 34 on Hr Candles & change SD setting to 2 or 1 as per ur wish (to choose 2-SD or 1-SD)

What more coding is needed ??!!

But more importantly, using SMA to find days Top , is it a right strat , using a STATIC FINITE MA signal is a doubt in mind ??

Prithvi Chidambaram said...

Stock down heavily but nifty going up,wow wt a magic

SJkolkata said...

again hind lever and tcs game today.

shree said...

since last few days NIFTY is managed by only 2/3 stocks....ITC/HUL...sometimes INFY/RELIANCE

shree said...

covered short taken @ 6060....

Renju S said...

Bhaag NIFTY Bhaag

Trader Junkie said...

i guess ..done at 6036

shriram said...

master ,

C.v.(4) nearing completion here ??

Oscill ringing again on 5mins intra

Sahil said...

Another important number, and even as per,"In sum, new highs possible holding "6021"; Below "6021", it is weakness, possibly even a reversal to be confirmed with prices breaking 5993"

D.pivot, 61.8% retrace (5995-6063),and dev.DHEMA-6021

Piyush Sharda said...

ur oscillator reading does it refer too hidden divergence/slingshot

vk said...

Namaskaram Guruji,
Good morning blog-mates.

shriram said...

@ Piyush:

Oscill --> Is a hiFreQ filter aimed @ identifying if a wave is 3wave / corrective / or in DSP terms a HifreQ "Non-directional" Noise

guess u guys call it divergence becoz it typically vibrates from OB to OS , w.o corresp Price yes that wud be it

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