Tuesday, July 30, 2013

Nifty Intraday Update-III


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?

satheesh said...

NIFTY at Month J10SAR

J.R.Julius said...

from 5566.90 to 6093.25 Retracements done

All Spot Levels

0.382 @ 5892 --- done
0.500 @ 5830 --- done
0.618 @ 5768 --- done

Ilango said...

@ rose mary,

If you part book at critical junctures, you'll get 40 points+ bounce to initiate a sell again normally. Depending on price structure and the developing technicals, you may change the re-sell zone.

We placed just 5 points for an attempt @ aggressive long and it got stopped out. Similarly, you could also get back your shorts with a min. loss to remain in position.

Since it is only a 25% profit booking, it is prudent to wait out for better re-entry.

Sandy said...

Perfect setup for bounce but today or tomorrow is the question.

rose mary said...

thanks sir.. got the point :)

Trader Junkie said...

61% retrace ! below this more downside ! Can be an aggressive entry on break of this level

Ilango said...

Waves sub-divide in a strongly trending mkt.

Waves sub-dividing is clearly evident for the fall from 5861.

Initially it looked like a simple 5 waves till 5790. And below 5780, it shows the sub-dividing possibility.

RS said...

@ Ilango Sir,

Looking at risk reward, can we go long at 5800 NF for a 100-120 point gain with a 50 point SL. ???


Sandy said...

Ilango said...
@ Anandha ,

Weekly channel support (connecting 4770 & 5447) comes @ 5730-35 approx which is a minimum target for current week.

J.R.Julius said...

Camarilla - Nifty Spot

WL3@5825 ↑
WL4@5763 ↓

ML3@5720 ↑

Hemant Harke said...

5749.50 to 5682 next gap area
10-12 points to go to enter the gap

deepak pinto said...

Running waves .
Counter trend trading risky

Ravi Pillai said...

I was waiting.

WL4@5763 ↓

I will go for it.


J.R.Julius said...

@Mr.Ravi Pillai,
For positional entry Please stick to JNSAR.
For re-entry read Mr.Illango's Pre Market/ other comments alone.

Ignore all other comments including me.


Observation & Opinions :
Usually Nifty spot bounce 20 points against intrad day trend it is a
reversal.Normal bounces are 10-15 points.In trending market like this
instead of part booking in market,trail and let SLO to trigger sale is
better option.You may have less profit but you are in the trend.

rose mary said...

When is bernake opening his mouth again? Tonight or tomorrow night?

Note: To decide on quantity to carry over night.

SJkolkata said...

Historically 5740 is a very important figure and prices have respected this may a times.

Piyush Sharda said...

tomm night

Ravi Pillai said...



In capital letters.

I follow only JNSAR.

For re entries I am puzzled a little.

Sandy said...

Sensex triangle bottom is at around 19238, today it did upto 19333.69 tomorrow one more low expected if not done today. Market is extremely OS.

rose mary said...

Thanks PS.

Though out of question for today.. i have one more concern... what is best way to minimize loss in carrying positions over night (event days in US)

Buying 1 lot of CALL against 1 lot of NF short


Carrying half of long positions alone.

shankar said...

ilango sir where is the part book area nifty short?

Sandy said...

Rose mary your hedging decision has to comply with the Delta of the Option strike you are taking.

Ravi Pillai said...

I have the same doubt as rose mary.

I am of the opinion that the trend is strong/ Month end near by .
Hold your Shorts even without CEs.

We are obviously nearing and going to touch sub 40s.

If my comment is half baked Seniors Pl advise.

rose mary said...


I would say. better carry full quantity & take decision based on ORB breakout tomorrow.. if gap up happen.. if down... just watch out for next big support :)

Nilesh said...

@ illangoji,

should we part book here or tomm month closing it
will be trend change in month so we should keep pos. intact.

Crorepathi said...

Slowly and steadily bears are pushing down...this is a matured bear.
Bear getting rich slowly and quietly...

satheesh said...


Boarded tatamotors again :)

rose mary said...

Thanks Ilango Sir for all your inputs... made 20% gain till now (it should 25% had i not attempted count trades :) ).. how ever enjoyed counter trades as well though ended in small loss!

Trader Junkie said...

Thanks for the EW guidance @ Sir - Helped add a lot of conviction today !

Bye all !

Okay said...

Thanks Master.
Somebody has well put...
"Jai Ho, Jai Ho".

Unfortuntely, all the regular "intruders" will not come today.

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