Monday, July 1, 2013

Nifty Intraday Update-II


19 comments:

Anandha said...

@ Ilango,
Sir this iii wave end is going to be reversal point ?

sanchjit said...

Sir, What do u mean by a "PAUSE" . Monthly, weekly ... N what cud be the corresponding price actions ?

Ilango said...

@ Anandha,

iind wave correction was of 86 points(5666 to 5580).

ivth wave may correct around that much.

Ilango said...

@ sanchjit,

"Pause" means the attempt to increase the downward momentum has failed.

Though month close was below MEma, it managed to close above 5 month sma -5827. That suggests the trend being "UP" in all T/F.

The upward momentum has come in Day T/F on 28th June.

Now we look forward to weekly momentum to resume, provided Month pivot-5806 and week pivot-5754 are held. As the prices move higher, weekly pivot's relevance will diminish.

Prabhanshu said...

SL hit for H3 again. I think all dips are being bought. Waiting for H4 for long.

Amol Sharma said...

5916 is 0.618% retracement from 6132 level which is nearing now.

Anandha said...

@ Ilango Sir,

When we are in corrective wave A, and subwave iv, this subwave will have 5 waves or only 3 waves ?
May be my interpretation is incorrect. Was thinking that the end of iii wave in chart is a part of iv subwave which will end with iii wave and from there V wave starts downwards to complete A in daily charts. Correct me if I'm wrong.

Ilango said...

@ Anandha,

I made it clear to you thru' email that based on BN's sub-waves, 5 waves down move is completed from 6229 to 5566.

However, as an alt.view, till 5937 is not breached, you could also view the rise as 4th wave. Why this alt. view is not favoured is the "strong break-out" from the channel. A 4th wave generally breaks the channel briefly and moves back into the channel to complete the 5th wave. That is not happening. besides technicals are improving too.

ITradeForProfit Daily said...

Nifty trading in ND Sir's ATR Sell Zone since last few minutes.

ankita said...

@6134 there is a gap down to be filled.

Ilango said...

50% Retracement @ 5898 done.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 1:00PM, Pivot-5818, S1-5784, R1-5875, ATP-5860, VWAP-5860

The 5800PE writers has matched the 5900CE writers, and now it may remain within todays range, with time correction maybe the next best thing…

Thanks & Regards

Prabhanshu said...

Sir, so can we say that iii is completed and iv can be completed at 5610 (86 points). And then we can see v to start? What could be the target of v wave ...??

Jay Mataji said...

@Master,

Means wave'A' Completed @5566, and we r in now wave "B', or if not cross till 5937, its label as 'iv' and 'v' and if cross 5937 than assum that we are in wave 'B', So how much Target of Wave'B', can it lead up to 6229???please guide me.

marketrider said...

ilango sir,

we saw maximam correction 31 point from 5580 to 5897

can we take any clue from 31+ correction ?

i mean to say 5897-31=5866

your view ?

with thanks

Ilango said...

@ marketrider,

The clue would be:

If it falls below 5858(MEma), bigger correction of 86 or more points from the highs.

Amol Sharma said...

VWAP day NF at 5863

Ilango said...

New Post Done.

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