Thursday, August 1, 2013

Nifty Pre-Market View.

Following the prices, we found the prices "Pausing near S2:5674" and rallied to 5720 initially & then retraced 61.8% @ 5691 & rallied again past the 80% of last fall from "5761 to 5676".
Now, we look for a higher retrace for the next big fall from "5861 to 5676", holding "5691" and if Nifty surpasses "5824", it is likely that 1st fall from 6093 is completed & Nifty is in its corrective 2nd wave.
Considering the higher T/F weakness, sharper falls would be confirmed only if Nifty closes below "WLEma @ 5771" tomorrow.
Hence, the tussle would be centered around "5771".(also 21 Hr sma/ DLEma).
Wishing you lots of confidence & peace in your trading room.

36 comments:

Kirubanandam T said...

Good morning Ilango sir & all...

San said...

Good Morning Ilango Sir and Friends

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Suraj said...

Good Morning Ilango Sir and All Seniors and Friends

Bala C said...


Good Morning, Ilango Ji

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

saravanan k said...

Good morning Ilango sir & all blogmates,

Rgds
Saravanan

R.S. SUNDARAM said...

good morning Ilango sir and everyone in this blog.

RAJ said...

Goldman Sach downgrades India

venkateshspices said...

Very Good morning sir & friends

NEVER GIVE UP said...

Good Morning Sir & All Friends.

rama balaji said...

GM Ilangoji & all blogmates

vk said...

Namaskaram Guruji and blogmates.
Vinay.

Manish said...

Goodmorning master and all friends,

Lead indicator too suggesting that the market has completed correction and look forward to a zig zag corrective in wave ii.

Jai Ho!!!

m.veerasamy Maruthai said...

GOODMORNING SIR AND BLOGMATES

Prakash said...

gudmorning master and all frnds

Nilesh Patil said...

Good Morning Master & Friends

amber said...

Sir ILango ji charan vandan and everyone good morning

anmpatel said...

Good Morning Master and Friends.

J.R.Julius said...

Good Morning Sir & Blogmates,
Have a Happy & Prosperous Day.
-
Camarilla - Nifty Spot
H4@5784 ↑
H3@5763 ↓
L3@5721 ↑
L4@5700 ↓

Trade Wisely. Get Rich Steadily.

Anandha said...

@ Ilango,

Do you see 34 EMA @5822 can act as resistance for thie first rally after such a huge fall ?

dharmu mishra said...

could anyone tell me were is "5771".(also 21 Hr sma/ DLEma) as said by sir i know i m making mistake somewere pls correct i can c 5771 as low ema wk and in chart 21 hr sma is given as 5780 hence the doubt

anmpatel said...

Nileshji...good morning...
as per our talk nifty resisted at R2!

rose mary said...

Sir,

As trend is Sell on rises, should we sell @5790 (golden ratio trade as well) with SL 5825

At the same time nifty trading above H4,5784...
which gets higher priority? Sell based on golden ratio trade / 21 hr SMA/DLEMA as trend is sell on rises.

OR

Buy as nifty is above H4 with 20 points SL

AJIT PATIL said...

Good morning Ilango sir & all blogmates.

rose mary said...

Sir,

Missed to part book at lower levels yesterday.. so is the confusion

dharmu mishra said...

could anyone tell me were is "5771". as sir as given this value in pre market view (also 21 Hr sma/ DLEma) as said by sir i know i m making mistake somewere pls correct i can c 5771 as low ema wk and in chart 21 hr sma is given as 5780 hence the doubt

Ilango said...

@ Anandha, rose mary,

Day & Hour TA have been oversold for sometime. And Month protected its LEma. These are signals for a ST bounce.

Looking at the bounce & various technical parameters, the bounce is likely to be for the entire fall of 6093 to 5676.

This bounce will not move up in one straight line. It will have counter falls too once the (a) wave is done around "5824-34 zone".

We still need to understand the quality of the bounce. The technicals in Hour has turned up; day would confirm by EOD.

Weekly downtrend would attempt to press down the prices towards 5771 either today or tomorrow.

deepak pinto said...

sir
The bounce!!!!
Selling can have whipsaws as indicator giving confused signals and a swing low completed.

DNSHUKLA said...

Dharmu, It is Weekly Low EMA. It is available under weekly row. More over Sir have clarified already. Hope it is clear.

Ilango said...

@ deepak pinto,

ST indicators are clear in their reversal.

MT indicators are clear in their downtrend.

No confusion; it is a ST bounce.

dinesh said...

Sir,
Retrace should be from 5676 to 5809
or from 5742 to 5809.
please advice

shriram said...

GM Master & JN Family,

Bernanke is one son of a gun for sure ...

itna accha khwab dekha tha aaj ka, paani daal diya :-)

N Ram said...

bounce done good level to resell 5810

dharmu mishra said...

shukla ji thank u i made mistake in understanding

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