Tuesday, July 16, 2013

Nifty Pre-Market View.

We maintained that the rally off 5566 as a corrective rise for the "6229 to 5566" fall.
We identified the weakness around 5900 and spotted the triangle.
We suggested the triangle break-out target as 6014.
We also pointed out the last resistance @ MHEma-6036.
EW suggested a bearish view of "Red.c" completing @ yesterday's high along with TA's negative divergences appearing in Hour & day but requiring confirmation of today's price action.
Last rise may be considered as "5803 to 6038"; hence, bearishness would be confirmed below 5893 & 5850.
Prices would, for the day, move towards DLEma.

56 comments:

Bala C said...

Good Morning, Ilango Ji

SGX Nifty trading at 5953 as of now.

Nilesh Patil said...

Good Morning Master & Friends

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning.

Have a Good Day :)

Vaalga Valamudan.

SANPOT said...

Good Morning Ilango Sir and Blogmates.

San said...

Good Morning Ilango Sir and Friends

RELIANCE Capital Chart analysis: CLICK HERE

Bhushan said...

Good Morning Gurudev and friends

RBI Guv D Subbarao hikes interest rates, but not quite

http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/rbi-guv-d-subbarao-hikes-interest-rates-but-not-quite/articleshow/21094078.cms

raman said...

Good Morning to all JN friends.

rochak parekh said...

dear I LANGO SIR

as per TT

as per pivot table, S2 is at 5959

nifty, seems like, i repeat SEEMS like opening below 5959

but by the way, if it happens to open above 5959, do we consider that supporting amply

OR

Rather

we should wait for nifty to dip below 5908 DLEMA to 5875 JNSAR to 5865 retracement 0.736 before starting any buying

KINDLY GUIDE

thanks

regards

OM SAI RAM

Renju S said...

Ilango ji,

Congrats for 5 years.due to office restrictions cant post comments...only view the blog. .

Thanks
Renju.s

Renju S said...

Taking bond interest rate from 7.5 to 8 is a huge negative to equities. ..especially bank nifty ... lets see if bond yield curve starts to get inverted.

Renju S said...

No more crr and repo rate cut to expect in near term

Renju S said...

Bond market may see some wild rates and may be a circuit hit too...bond traders...be careful....

NEVER GIVE UP said...

Good Morning Sir & All Friends.

rama balaji said...

GM Ilangoji & all blogmates

venkateshspices said...

GOOD MORNING SIR & FRIENDS

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

J.R.Julius said...

Good Morning Sir & Blog-Mates,
Have a Happy and Prosperous Day. ♥
-
Camarilla Keylevels - Nifty Spot
H4@6062 ↑
H3@6047 ↓
L3@6015 ↑
L4@5999 ↓

Prakash said...

gud morning master and all frnds

Renju S said...

Ilango ji,

If nifty falls below 5908..can we say next support would be at 5893, 5875, 5865 and 5850

Should we have a filter of 5850 as sar for today

Thanks,
Renju.s

Renju S said...

Julius ji,

What would be the extended level.

Thanks,
Renju.s

Sujatha said...

GM SIR and friends :)

Julius - vanakkam boss. the power of in.....n?? + illogical tech?? anyway SGX showing 5907.. hi hi i will be out from my puts once 5914/26 comes..rule is a rule :)

Have a good day to all

Amol Sharma said...

Good Morning All.
bearish breakaway pattern

Arif said...

Ilango ji,
Good Morning...

amber said...

Sir ILango ji charan vandan and everyone good morning

ALBELA HOUSE said...

R/Ilango Sir,Namaste n Namaskaar 2 all reader's.

Parminder said...

Master ilango and friends,
Good morning to all
Regards

Suraj said...

Good Morning Ilango Sir and All Seniors and Friends

rochak parekh said...

i wonder , how these people manage pre market trades in nifty

today also, in pre market trade, nifty seen to be traded 6119, whereas at the same time SGX showing 5904

wow

they actually are very good manipulators

OM SAI RAM

vk said...

Namaskaram Guruji!
Good morning Blog-mates.
Vinay.

Kirubanandam T said...

Good morning Ilango sir & all...

Sujatha said...

what is this??? NF showing 5844 is it a freek one?? any one pls. check ur ODIN

Juli - done :) good breakfast

Ilango said...

DLEma: 5909.

Low made:5911.

Mild bounce, (iv)th sub wave of the fall from 6038 is on.

5955-70 to act as resistance.

Kiran said...

NF Open and High @ 6032 ?

Hitendra said...

What would be the target for the 3rd down wave?

Sujatha said...

sir - looks like is it possible to fill the gap of 5870 breakout level?? as am getting already below 5914 - 5881/5877/5858 of course ..i will exit if 5926 or 5914 protected on EOD basis

Jitendra Mishra said...

llango sir tuse great ho

Bala C said...

@ Sujatha Sis

NF yes, gap down @ opening, low 5944.40

Bala C said...

Sorry...low 5844.40

Jitendra Mishra said...

llango sir according to TA since yesturday price crossed hanging man ad it was invalidated but sir is there any other situation were the follow up candle of hanging man though it cross it is the confirmation of hanging man since we r today seeing its effect

Ilango said...

@ Sujatha,

After making another low around 5900(5893 is 61.8% retrace of the last rise from 5803 to 6038), a corrective rise should emerge after which a major fall.

Present corrective rise should find res. @ 5959-74(50% to 61.8% of the last fall from 6036 to 5911), also the critical "5970".

Only a sustained prices above 5970 would bring back bullishness.

Ilango said...

@ Jitendra Mishra,

Though hanging man failed, there were other indications of underlying weakness with -ve divergences, corrective target met near MHEma, monthly signal continuing in "Sell on rises".

Take cues from few studies and when the signals merge, the "low risk-high probability trade" emerges.

m.veerasamy Maruthai said...

GOOD MORNING SIR AND ALL FRIENDS

chetas said...

Sir, for me your last message yesterday was very important,

It was a nwe understanding for me, I was able to take action based on that message, thankyou so much



Ilango said...
"c" waves end with bullish bias; we'll know only tomorrow whether "Red C" has ended.
Part booking is the only strategy available. We encourage aggressive trades mostly for "Intraday only"
July 15, 2013 at 3:28 PM

Srinivasan Krishnamoorthy said...

who gets benefited by the preopen

Guru - Trading Nirvana said...

Master --- How is this coincide??? I mean, such a beautiful rythm I could see for Elliot wave traders.. the END of C and exactly that day or at that night we have some news to make the Elliot look so wonderful...Gr8...

Jitendra Mishra said...

llango sir thanks for ur guidence

Iris said...

From last few days its look like market is not for small traders like me.

All the major moves are either gap up or gap down and market in limited range for rest of the day.

Thanks to Ilango sir, I didn't carry any position home yesterday but these gaps are frustrating me now.

cooldent said...

Iris

its frustrating most of us

Sujatha said...
This comment has been removed by the author.
Amol Sharma said...

@Srinivasan Krishnamoorthy
There are smart people llike sujathaji and other.

Iris said...

Ilango sir

C wave has ended now and downwave has started, so why it is not sell on rises rather than buy on dips.

shriram said...

GM Master & JN Family,

Pattern: .. galle par baithne ka mazaa lo :-)

Have a gr8 day !

Pattern Trading said...

Good morning master and all
Shri ramji ..yesterday 6040 magic worked :)

Jay Mataji said...

Iris ,

Still 5850 it is buy on dips,bcz the doubt if it is iv? breaking of 5850 make us confident that 'C'completed.

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