Tuesday, August 6, 2013

Nifty Intraday Update-I

If yes,
 i) Is ongoing correction is simple correction (Zig-Zag correction).As the corrective Wave A of a Zig-Zag correction has a five-wave pattern (marked in bold green color).
Other condition that here holds here(for simple correction) is that Wave B : Usually 50% of Wave A/Should not exceed 75% of Wave A
Ans: It could be a zigzag targeting approx: 5525 OR it could be an impulsive "C" wave targeting much lower levels.
ii) And if above point is correct the this wave C (marked with the Orange line) should stop somewhere around 5470.
Ans: Answered.
iii) One more query in addition to above the "irregular flat" correction that you're mentioned is ongoing in hourly TF. is this correct??.
Ans: Yes. Hour T/F.

41 comments:

AJIT PATIL said...

good morning ilango sir and blogmates

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning.

Have a Good Day. :)

Vaalga Valamudan.

varun kumar said...

Good morning ilango sir ji and my blogmates

Raghavendra said...

Dear All,

ND Sir's ATR break down happened below 5622 - 5615.

Break down target is 5546.

Raghavendra

Trader Junkie said...

5500 is 50% retrace of the big wave...one may argue (on closing basis ofcourse) that we are now playing that retrace !

Guru Krish said...

TT is completely painted with RED colour, I think we shouldn't be even thinking of Longs..(Exception for Suja Sis :P)...Attack on all rises for sure!! ..

Prabakar said...

Namaste Ilango Sir & JN Family

Ilango said...

To micro manage your trades, treat last fall as "From 5696".

For intraday counter trades, attempt only after deep falls.

For eg:

Last rise is from 5609 to 5621=12 points.
61.8% retrace comes @ 5613.
80.0% retrace comes @ 5611.

Go long @ 5613 with a SL of 5611 for a target of 5630+.

Sandy said...

Gann 75% (5610) on daily close attemped so early! If it doesn't hold cuts may get very deep today itself.

dharmu mishra said...

respected llango sir thanks for explaining the EW chart were i was confused to even understand the chart. though this query were from rakesh but for me ur explanation cleared my doudt in understanding the current formation.

CDG said...

@Ilango,

Currently NS is just trying to find some support at MLEMA -40. Does this observation has any significance in wave structure (which you had already explained though).

Ilango said...

@ CDG,

But the weekly trend has gained a "Downward momentum signal" since 02nd Aug. which can not be ignored.

ankita said...

i think 5589 gap will be filled and will reverse.

shree said...

NS..5662 TO 5636=26
NS..5636 TO 5648=12
NS..5648 TO 5632= 16
NS..5632 TO 5640=08
NS..5640 TO 5609=31

shree said...

NS..5662 TO 5636=26
NS..5636 TO 5648=12
NS..5648 TO 5632= 16
NS..5632 TO 5640=08
NS..5640 TO 5609=31
NS..5610 TO 5627=17

Prithvi Chidambaram said...

@master
Is bounce pending as 9day RSI in oversold?

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-5727, S1-5692, S2-5660, VWAP-5659

Its been a 'Shock & Awe' for the Bulls, the Bears have dominated the proceedings with 5700CE writers on a mission, upside capped around 5700…

Thanks & Regards

Nitin Kadam said...

@Master,

I am planning for investments.
Can you please guide levels for making fresh portfolio.
If time permits please specify some good stocks.

Thank You!!

ankita said...

if its 4 in monthly then it should reverse today or tomorow from 5585-90.

shree said...

vwap 5659 worked....reversed from 5652

Prabakar said...

Prabakar said...
correction.

next BNF point 9881, then 9840 based on previous support and resistance
August 1, 2013 at 11:34 AM

Prabakar said...
BNF 9881.50 was the low on 03/09/2012...
August 1, 2013 at 11:37 AM


BNF next support at 9840...

9840 was the weekly low on 26/03/2012

Sonu said...

@Prithvi Chidambaram,

Read Ilango Sir's yesterday EOD post:

"Unless prices close above 5DEma/ 5DSma & sustain, these observations will mislead.
Attributing technical strength during downtrend based on "indicators" is a recipe for failure."

gauresh59 said...

Namasthe ilango sir and friends,

Today's quote received :

Which step have you reached today?
I won’t do it ,
I can do it ,
I want to do it,
How do I do it,
I’ll try to do it,
I can do it ,
I will do it,
Yes, yes I did it......

Prabakar said...

Based on previous supports, expecting a reasonable fight by bulls @ BNF 9840..

if BNF 9840(+/- 20) breaks easily, then may see a deep fall

bizagra said...

Ilango sir...ns closing below WLEMA..can be seen as...wave 3 started rather than v??

shree said...

NS..5662 TO 5636=26
NS..5636 TO 5648=12
NS..5648 TO 5632= 16
NS..5632 TO 5640=08
NS..5640 TO 5609=31
NS..5610 TO 5627=17
NS..5627 TO 5608=19

5610 to 5627 35 minutes
5627 to 5608 20 minutes
35*61.8%=21
faster.....new low after this bounce again expecting...if it remains below VWAP

Okay said...

Master,
Thanks for your guidance in this update.

one request from my side...
Could you please highlight the mentioned probable counts with specific numbers (which were achieved). I would really aid in understanind the counts.
Thanks in anticipation Master.

Rakesh said...

OMG, can't believe this Sir you answered my queries.., thanks a ton for your valuable time and response.

Thanks again,
~Rakesh

shree said...

NS..5662 TO 5636=26
NS..5636 TO 5648=12
NS..5648 TO 5632= 16
NS..5632 TO 5640=08
NS..5640 TO 5609=31
NS..5610 TO 5627=17
NS..5627 TO 5608=19

5610 to 5627 35 minutes
5627 to 5608 20 minutes
35*61.8%=21
faster.....new low after this bounce again expecting...if it remains below VWAP

NS..5608 TO 5617=9
VWAP was 5656....and turned @ 5648 and @ 50% NS 5617.....and here is new low

shree said...

NS..5662 TO 5636=26
NS..5636 TO 5648=12
NS..5648 TO 5632= 16
NS..5632 TO 5640=08
NS..5640 TO 5609=31
NS..5610 TO 5627=17
NS..5627 TO 5608=19
NS..5608 TO 5617=9

every 50% bounce got sold off ....so far.......

Nifty Simba said...

very probable ABCD pattern in 5 min charts--- a 100+ move on the cards.........LOD is sl

satheesh said...

Diamond pattern breakdown in Hour charts. If supported at 280 levels then one more roundof pull back - else diamond pattern target 12-15 points from 280.

Caution: tomorrow tatamotor result. If the pattern fials it would just zoom up same 15 points immediately

anmpatel said...

can anybody tell me R3 for 5500PE aug month series?
thanks in advance.

satheesh said...

**typo - If pattern fails

Crorepathi said...

Time for...

Jai Ho...Jai Ho

Ilango said...

@ Okay,

If there is any EW label is required, it is updated in the "JustNifty TA" file which is uploaded in JN Group everyday.

If there is no updation, it means there is no need for the same because prices may not have acted decisively.

vksoni said...

@anmpatel
R3 is 85.7

shree said...

NS 5613 POC..????

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