Wednesday, July 24, 2013

Nifty Intraday Update-I


Aijaz said...

Sir and blogmates, please advise if we should short at 6008 with a SL of 6028?

m.veerasamy Maruthai said...


Kiran said...

Bulls trying to hold last support.... 50 Hr SMA. (6014-15).

Sandeep Koppula said...

BN has an unfilled gap @ 10665-10797. Took support@10798 just above the gap. Watch for weakness if the day close in the gap.

Jigar said...


JNSAR is 6008 now, you short below 6008 with SL of 6028 and reverse to longs above 6028..

Anandha said...

@ Ilango Sir,

Do you see B completed yesterday and C in play downward?
Could you please educate with possibilities of C completing above A(@5566) ?

deepak pinto said...

Yesterday the abandoned baby was concieved.
Last night labour pain
Today delivered.

dharmu mishra said...

respected sir can we consider the support of 5993 now

rochak parekh said...

resp i lango sir

does that level of 5993, that we have been mentioning a long back, whole week, last week, still stands valid for a support

kindly reply




Aijaz said...

Thank you Jigar..done !

vk said...

Namasaram Guruji and blogmates.

dharmu mishra said...

respected llango sir can we consider the support of 5993 now

Renju S said...

After a long time JNSAR,DHEMA,DLEMA, and Dev.MA taken out


rose mary said...

Golden Ratio (5990) breached, Hope 5960 breaks today itself.. ND sir break down target is 5930

Renju S said...

But the larger question Tomorrow's expiry volatility...will that cause a whipsaw?


Renju S said...

Rosemary Ji,

Ya good level for the shorts to carry forward is as you said 5930-5960...keeping in mind tomm's volatility.

Let keep our finger crossed for ND sir target.


Renju S said...

Anyone having the extended support levels?


bepostive be nagetive said...

last rise 5926to 6093-167 point
61.8% is 5989
low ema 6005-20points also on5985 may be good support or not?

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-6088, S2-6050, S3-6013, ATP-6034, VWAP-6034

Huge Huge addition at 6000-6100CE, panic setting in at 6000PE, but stillOI above 81 lacs, upside for the day is capped…

Thanks & Regards

Renju S said...

Waiting for Sir ji full of red color chart and numbers ... :)


5989 is the 3 D away rule of Edwards & Magee whihc is wiedly used
in developing market as SLO touced.
High of 17 5989 market made low more than this for 3 full days.
If EOD Clsoe < waterfall.

Obsessive Lover said...

Dunno why this jnsar figure of 6008 is gaining importance now..that ll be applicable in last 30 minutes only..

Jnsar for the day is 5992 and that only should be used..

Ilango sir / seniors, please correct if I am wrong here..

IndieTech said...

@Harish Tahkkar: Kindly elaborate a bit for education purposes - sounds interesting...

vksoni said...

jai ho ilango sir

Sujatha said...
This comment has been removed by the author.
Sandy said...

OI analysis is reliable or Elliot Wave is the question to be asked.

Renju S said...

Obsessive Ji,

6008 is the key because the weakness was spotted below 6030 and much more after ND's beakout target- 6015.


Ilango said...

We have been tracking the rise as a corrective "abc".

Post "a", "b" developed as a triangle and triangles generally precede a top.

Accordingly, "c" played out as an ending diagonal & stopped @ the resistance zone.

The price confirmation was awaited of breaching the last low-6023; it breached @ open. To sell on rises, fibo., retrace was done as 6047, 6055 & 6062.

Nifty touched 6047 and falling & in the process broke the channel support too.

Why, then, are you looking for "supports" at this juncture???

Bus has just left the depot. Isn't it??

bb said...

I am tired of seeing such posts which predicts insane targets, every time market makes a low or high. Please provide a time frame and justification, rather than predicting a free fall or upward movements. Just a month back people spoke about 5200 as Nifty targets and then went hiding. These mails only satisfies personal ego without any help.

Ilango- sorry , if I have overreacted, but wanted to share my views.

Sahil said...

Good Morning Sir,
Should we consider 5970, 5945 (5941, Weekly S1) and 5937 (5935 50% retrace, 5776-6093) as 1st lot booking area?
Per TT as on 11:00 am WEMA(5960-5942)...

Trader Junkie said...

excellent - so now we can say (ofcourse need to wait for EOD) that we ahve turned at 6090 i.e 80% of the retrace !!!!

rochak parekh said...

resp. sir

truely said

bus left

but can we have a rough rough idea, which station, the bus might get a break for lunch or dinner


where are we heading too




Sahil said...

i am a bit confused on 1st lot booking as 6093 is now wave 2 and looking at the bigger picture 3 will unfold.

Manish said...

@ Master and all friends,

Jai Ho....

ravi said...

illango sir where will be next support level for nifty

Amol Sharma said...

Sir I am muted long ago. but I entered JNSAR Trade. Thanks.

Prabhanshu said...

Why I always travel in City buses where bus stops at every bus stops and why not in intercity bus. Again missed this downfall. Seems it wont retrace back to enter into short.

Ilango said...

Market at its' old critical level of "5970"; some tussle is due here.


@ IndieTech
As defined in the book of Edwards & Magee :
" The entire price range for three full days must be entirely above
the top price for the day making low.This " three days away " rule,
it would apply in reverse in decling market,where the range for three
days must be enitrely below the range of the day making high."

shriram said...

GM Master & JN family,

Extnd 1st in C lable has worked , and how !

Impulsing below Dev.Dlo , statistically will seek 68% zone @ 5900-5920-5940 NS, before any consolidation attempts

have a gr8 day !

prakashbkc said...


Thanx for timely update at 9:30am

Master any suggestion for placing SL who has shorted at 6042 level

Ilango said...

@ ravi,

As long as Nifty keeps below either 61.8% or 80% of last fall(Presently from 6093 to 5968),

it will attempt to "close below 5942" EOW-26th July to confirm a weekly reversal

and would attempt to "close below 5858" on 31st July to continue month downtrend.

Once these happen, we could look at other likely targets or key supports combining TA+EW.

Prabhanshu said...

Sir, is it advisable to keep retrace ready for 6047 to 5968 fall ready to enter into short position?

Sanjay Jaiswal said...

Namaste Ilango Sir and Friends,

Seems like my Intra OI Comment has been gobbled up by SPAM BABA


SJkolkata said...


Sujatha said...

"""and would attempt to "close below 5858" on 31st July to continue month downtrend."""

sir - y not v expect the above 2morow as expiry bonanza?? wild guess but will trade according TA+...lead indicator is the king..if at all the above holds i will bet for another round of upside then fall in august??? looks like the set up is going on like this i believe (not a belief..hehe in....n) is it matching with ur critic sir??


prakashbkc said...

It is magic of EW that 6000 break & Master's magic
TA file which helping many us like trader

prakashbkc said...

Lead oscillator on hr chart still indicating more fall is due during day

any suggestion for placing SL who has shorted at 6042 level

Iris said...


Need your help to understand the current wave structure. Pls guide.

The rise from 4531 to 6229 was having a 12345 wave form. So next a corrective abc move was expected.

A ended as 6229 to 5566
B currently ended as 5566 to 6093
and Now C wave has started with possible targets of 5500-5600. Is it correct ?

If correct then how can we predict in advance that what will be the wave structure of C. based on the waves that has completed.
My confusion is will it be abc or 12345. ?

B.a was straight from 5566 to 5904
B.b had 12345 structure
and B.c had abc form.

Since B was abc can we say that C has to 12345.and further since B.c was also abc then next C.1 has to be 12345.

Or there is no such logic and it can be anyways.

prakashbkc said...

GM Sujatha mam,

I believe in intra week we can see price below 5942 Also I think EOW close above 5942
As US SP500 is in Intermediate iv wave correction that MAY BE started yesterday and after that Int V will start in August as per Tony sir report

Okay said...

Master, thank you for your continue guidance.

SJkolkata said...

If this is the reversal for Major C than in my understanding it will not give any chance on upside to liquidate kings or create shorts.
Its going to be a waterfall.

Piyush Sharda said...


9 d rsi made a new high yesterday indicating momentum up.

shriram said...

@ SjKol:

one will NEVER Know if this is "Big" Py degree "C/Y"

For all we know, BIG C may have started @ 6229 & this may be BIG C.3 starting today ?

All these r too speculative lables to be used for ST trades , isnt it ?

sarvesh said...

respected sir, the fall when RBI moved last was of 128 points6038-5910...this fall till now has been almost same6096-128-5968...moreover 5970 can be a tussle point as has been a support previously...lets see the retracements..might be another angle to book intra trades and re enter??

STOCK4SURE said...

i guess days low is at its place now

and on upside 6016 is capped till tomorrow

may trade in 5960-6016 till tomorrow

total prem in 6000ce +pe is near 66 .they will make it 0-10

SGRaman said...

(typed an hour back, missed to publish)

My observations:
1) since June 28, 100 hr sma has given support. (Presently its value is: 5947 spot.)
2) earlier area around 5970 (spot) has worked as resistance, now this could give support.

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