Tuesday, July 30, 2013

Nifty Intraday Update-II


mayank said...


5730-5735 , MINIMUM target.....
you are making us greedy,

Manish said...

ED retraces itself fully and ED started from "5803", provided prices do not retrace any fall more than 61.8% or 80%.-Premarket view July 25 2013

Very important lesson I got from you master.

Jai Ho !!!

nifty rider said...

RBI गवर्नर का कहना है, आर्थिक विकास दर गिरी है, औद्योगिक विकास दर गिरी है, रुपया भी गिरा है और ब्याज दरों में भी अभी कटौती नहीं होगी। यार, हिम्मत चाहिए एक साथ इतनी मनहूस ख़बरें सुनाने के लिए।

Manish said...

@ mayank


Ilango said...

@ Prabhanshu,

To micro manage intraday trades, keep 5832 to 5796 retrace till 5796 is broken.


nifty rider said...

ब्याज दरो मे कटौती को लेकर आरबीआई की approach, उस लड़की की तरह है जो हर बार प्रपोज़ करने पर कहती है, सोच के बताऊंगी और फिर न कह देती है।

rose mary said...


Day High is showing 5845... it should be 5861.

One query: why you have chosen intra fall from 5832 ? What is logic behind.. please explain if you found time..

anand said...

@Rose mary :
If you see 2 minute chart...that is the "Last fall" from 5832..hence this (trying to learn this wonderful lesson shared yesterday for retraces of LAST MOVES for 2-3 period..)

Ilango said...

@ rose mary,

5861 to 5822-(i)
5822 to 5832(ii)
5832-xxxx (iii) in progress.

Hence the fall from 5832.

rose mary said...

Thanks Anand...any way day low broken... time for Golden Ratio trade :)

rose mary said...

Got it sir, thanks :)

shriram said...

Price approaching mean of Bell curve Days low

68% confidence zone is 5770-5790-5810 NS

will it hold on a day like today , is moot Q tho ?

Iris said...


I was waiting for a target for 5890 to 5910 zone for selling. But didnt get it.

Any chances of retrace for fall from 6093 to come or no to short.

When can we say that the Big C has started.

anand said...

Sorry Rose mary-> My idea was wrong !
Sir has explained in waves, which is more potent.

Yes Sir!

That's count on 2 minutes from day high..
need to work on our eye-sight to see these moves..(work in progress)
Pardon me for chipping in..!

rose mary said...
This comment has been removed by the author.
rose mary said...

5767 – ATR breakdown
5766 – Golden ratio for total rise from 5566-6093
5760 b triangle support as per sir post

anand said...

Is a 5-wave doen at 5790 and now a retrace till 50% (5826)/61%-5834 expected (Intra day for last fall?)
(If no extensions are made to 5th)
it is just 5th the 3rd which Sir mentioned as going on ?

Not an idea for trading. Just reading waves in real time.

Ilango said...

Keep the retrace of 5832 to 5790

5861 to 5822-(i)
5822 to 5832(ii)
5832 to xxxx(iii) presently 5790.


Sonu said...

You mentioned in Premarket view July 25 2013:

" ED retraces itself fully and ED started from "5803", provided prices do not retrace any fall more than 61.8% or 80%."

Now that the ED has been fully retraced, can the subsequent falls retrace 61.8% ~ 80% or more?


Ilango said...

@ Iris,

Following the technicals & prices, we observed a likely close below 5858 on 31st July.

That point coincided with hour channel.

In a strongly trending down market, any sharp upmove during initial stages is a "Selling opportunity."

You have to believe in the current trend.

Until you do that, there are no other short cuts.

Learn to follow.

I would not want to speculate on sub-waves during this fall with higher T/F technicals taking a severe beating.

Only when prices show a tendency to make a higher low & higher high and sustain it, could be say a ST bottom is in for the fall from 6093 to XXXX and a retracing upmove is likely for a good resell.

Sometimes, the corrective upmove may unfold as a running kind, making lower high & lower low.

Ilango said...

@ Iris,

Take the examples of stocks Tech.tables which could be downloaded from JN Group.

Some like SBI, Tata steel, once closed below MEma & MLEma has fallen by 15-20%. In speculative terms, it is money doubled or trebled in options. Falls have that effect with fear attached to it.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 1:00PM, Pivot-5891, S1-5858, S2-5838, VWAP-5866

So RBI Governor came and went doing nothing at all, and the CE writers have taken the opportunity to pile on the misery with addition from 5800-6300 level, SELL ON RISE…

Thanks & Regards

rose mary said...

Only when prices show a tendency to make a higher low & higher high and sustain it, could be say a ST bottom is in for the fall from 6093 to XXXX and a retracing upmove is likely for a good resell.


Cleared the doubt i am typing right now :)
we can see high low/high pattern on hourly closing basis in TT... correct if i am wrong.


do you recommend any other live chart site which show high/low/close values on hour basis.

suresh said...

watch ns if < 5782 then can see 5769/57/52

deepak pinto said...

Nw says ed retraces itself in 50 percent of time
5803 gone
Nifty kept its date tuesday!!!!

adx said...


You can find hourly low/high/close values at bazaartrend.com

Ilango said...

It is possible a 5 is done from 5861 to 5787.

Sanjay Jaiswal said...

Namaste Ilango Sir,

Seems like all my comments are going to SPAM for the day :)

mayank said...

Also Sir,

Month s.macd is also likely to trigger , looking at the result of trigger in Day s.macd , picture looks very fearful for nifty in coming months..

Sandeep Koppula said...


After a 1000 point move, is BN holding on for the MAs to catch up?


Ilango said...

"Running correction" deceives us.

Ilango said...

@ mayank,

Immediate technical event is the "Entry of week's f.macd" to enter negative zone this week.

Ilango said...

@ Sandeep Koppula,

"Sideways move" in a downtrend indicates strength of bears.

ITradeForProfit Daily said...

5760 is current month low

Bharat Kumar said...

Ilango Sir - Could you kindly define "running correction" ?

Kiran said...

Today again Sell off started after RSI(10) in Hourly chart went close to 30.

Kiran said...
Observation on RSI :
RSI (10) on Hourly chart generating trend line(Trades between Thursday and Today). All bounces are coming from this trend line going up.
Sell off coming when RSI touches 30.
July 29, 2013 at 2:28 PM

Sandeep Koppula said...

Thank you again Sir! :)

mayank said...


You are just increasing the confidence to hold onto position...


Sanjay Jaiswal said...

@Namaste Ilango Sir,

Day for the SPAM BABA, targeting my comments...

anand said...

"Ilango said...
@ Sandeep Koppula,

"Sideways move" in a downtrend indicates strength of bears.
July 30, 2013 at 1:22 PM"

Will the same be applicable in uptrends also ?
We have seen your earlier comment for "running corrections in upmoves are very bullish"

Learning while sitting on..

SJkolkata said...

Can any one confirm the ending diogonal pattern in 2 mins.

Ilango said...

Running correction:

"Flat corrections usually retrace less of preceding impulse waves than do zigzags. They participate in periods involving a strong larger trend and thus virtually always precede or follow extensions. The more powerful the underlying trend, the briefer the flat tends to be. Within impulses, fourth waves frequently sport flats, while second waves rarely do."

In a rare variation on the 3-3-5 pattern, which we call a running flat, wave B terminates well beyond the beginning of wave A as in an expanded flat, but wave C fails to travel its full distance, falling short of the level at which wave A ended.

Ilango said...

Part booking closer to the target is prudent.

Aggressive intraday longs could be attempted with a 5 point SL from day's low(5775)

bizagra said...

Ilango sir....wave vth started..can also b a possibility then??

Ravi Pillai said...

I was away for some time to the bank.
Good Afternoon.
July 30, 2013 at 1:37 PM

J.R.Julius said...

Seems taking Support
Below S2 & 5pts above L5

Sandy said...

5767 61.8% retracement of the entire last rise

rose mary said...


If we part-book, expecting some bounce, but bounce is not materialize.. we can re-enter shorts on break of next crucial level.

In current scenario, i booked 25% of shorts at 5780.. if bounce didn't come, i will re enter on break of 5760.. is this correct approach only?

Sandy said...

NR4 day low target 5752

Sandy said...

Month doing a double bottom at 5760

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