Wednesday, July 31, 2013

Nifty remains down in month while making a "Pin Bar"/ Hammer pattern in day T/F.


14 comments:

Adrian Jose said...

I would like to express my sincerest gratitude to … ... Ilango Sir,
from your guidance, great kindness and patience and
I wish to say a heartfelt thank you.

anand said...

Sir
Though its late to comment, I am making a point for myself.
Further, I wish to contribute more in real time and carrying forward the decision- some of us took while you were not posting for some time- to learn and post our own studies and share with others.
Though posting our own trade plans have mostly stopped and I have not done that as well, I must share that posting in real time and receiving valuable inputs from your and other seniors (Incl Shriram) has been great. I would continue that with your kind permission.
For End of day / End of month today :
- Is the pin bar in the day frame a strong indicator of reversal (though in recent times experience has been mixed)
- If its 4th in the large C / in the 3rd (iv) as you mentioned in the day, the deception might be working as bull trap by showing the day's candle as island reversal also.
- The retracement closed below 80% and might have been based on short covering in expectation of BB's comments tonight, Which is not to be considered, if we want to remain disciplined
- Riding the trend from JNSAR hit on 24th, we shall keep faith in the charts and tomorrow shall be another day to test the news/views vs technicals.

Thanks for your guidance and unending support!
From
- A work in progress

deepak pinto said...

Sir
Tomorrow is bounce day.
47 breach and
Relentless red candles from top 6229
Pin bar smart shorts covered.
Lead indictor turns up.
Waiting for higher levels to short less risky and more rewarding

Swami Shivkumaar said...
This comment has been removed by the author.
Swami Shivkumaar said...

Dear Sir,
Recent past your contribution has increased considerably during market hours. There is no words to describe your dedication, sincerity, humbleness and selfless teaching. Silent students like us can do only one thing

SALUTE YOU.

Thank you for everything

Rgds

deepak pinto said...

Sir
One more imp sign
Nifty made a pin bar in 30 min chart at the bottom.
In 5 min it made a irregular triangle whose nose at 5691 was not broken till eod .
Triangle target 46 points made.
Looks like more inclination towards bu or lack of convictionon of brs.
Let us wait for morrow

SAM said...
This comment has been removed by the author.
Pattern Trading said...

Good evening master charan sparsh..

Idea Chart : https://fbcdn-sphotos-a-a.akamaihd.net/hphotos-ak-ash4/1003715_187304634779004_445490198_n.png

Sujatha said...

GE sir and friends :)

Vetrivel muruganukku arogara !!!

By the way all don't pray "navagrahas" for another 2-3 days...now all the grahas with "Bernanke" so the grahas will be back once it's work is over with him.

GN :)

Sujatha said...

OMG OMG - here is the data

NIFTY SPOT 5742 lower than june 5842. but June high is 6011 and july high is 6093. June month low 5566. July month low (31st) 5677.(higher high higher low??) a pin bar appeared for trapping bulls or it's a real buy?:P bulls need mercy from merciless bears :(

NIFTY FUTURES 200 dma around 5800to5808 spot 5790? bulls still not able to "raise their tails" when it will raise their heads?? mm..at important junctions don't wake up the bears..let it sleep..so that bulls can do long jump , higher jump etc.

all the best friends

shriram said...

Always Dare to Dream !

And if it fails,
utter choicest words & let out some steam ;-)

Bhavin Dalal said...

Hello to everyone

be very very cautious tomorrow. Nifty may show signs of touching an upside of 5853. It looks a bit like buying for a day but a temporary shift only. I will not be surprised to see the downslide continue further. Look at USD INR, this is a sign of instability and again petrol prices have gone up and govt is wants to add more taxes on luxury goods..MIDCAP market is 90% dead. how do you expect a wonderful upswing in such market..be cauious.ALL THE BEST friends.

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