Friday, August 2, 2013

Nifty Pre-Market View.

EOW is here. "5771", WLEma is crucial, only a close above it would signal a "ST Pause", though prices closing below WEMa would keep the downtrend intact.
EOD is also here. "5789", DEma is crucial, only a close above it would signal a ST reversal in day T/F.
If these happen, prices could attempt to move towards "5904-27" zone, holding "5718" in the next 2-3 days.
Remember prices are presently below these critical numbers, 5771 & 5789 and their attempt during "intraday" would offer trading opportunities.
Immediate resistances for the day is @ 5789 & 5809, above which "5824".
Weakness would continue below 21 Hr sma & Day pivot @ 5748 & 5738.
Hence, the tussle would be centered around "5771-89".(also 34 Hr sma/ DEma).
Wishing you lots of confidence & peace in your trading room.

48 comments:

Bala C said...


Good Morning, Ilango Ji

Prasad said...

Good morning,Sir & blogmates

Nilesh Patil said...

Good Morning Master & Friends

San said...

Good Morning Ilango Sir and Friends

ITC Chart analysis: CLICK HERE

prakash nambiar said...

Good morning sir,
I want to understand to use the system.
How should I go about it.
Please help.

vk said...

Namaste Guruji.
vinay.

Prabhanshu said...

Good morning Sir and friends. Wish you have profitable day.

SANPOT said...

Good Morning Ilango Sir and Blogmates.

Kirubanandam T said...

Good morning Ilango sir & all...

J.R.Julius said...

Good Morning Sir & Blog-Mates, Have a Happy & Prosperous Day. ♥

Magic Numbers for trading don’t exist, but a trader who can follow the trend using relevant numbers can do Magic.
-
Camarilla Keylevels - Nifty Spot
H4@5800 ↑
H3@5764 ↓
L3@5692 ↑
L4@5655 ↓

By watching Camarilla levels, You will start to Notice the Market in a new perspective. It is not a Holy Grail, But a Map.

DNSHUKLA said...

Good Mng Sir and Friends.

saravanan k said...

Good morning Ilango sir & all Blogmates,

Rgds
Saravanan

Sonu said...

Good morning Sir & all members!

@Sir
"A flat tends to occur when the overall trend is strong, so it almost always precedes or follows an extension."
Since wave (iii) was an extended one from 5998 to 5676 and the down trend is strong, a flat correction is very likely and yesterday we recognized this correction as flat when Wave 'b' did go till 5677.
Shouldn't we now consider the current upmove as wave 'c' and use the current upmove to re-enter shorts on positional basis rather than intraday?

R.S. SUNDARAM said...

good morning Ilango sir and everyone

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

rama balaji said...

GM Ilangoji & all Blogmates

dharmu mishra said...

respected llango sir shubprabhat sir just wanted some knowledge about what is imptance of 5718 level as it is said in pre market holding "5718" in the next 2-3 days. is it because it is forming double bottom in hr chart or something else added to it thanks

Guru Krish said...

Good Morning Masters and friends.. have a great and Prosperous day ahead!!..

anand said...

Good morning Sir !
From yesterday's labels, you have re-labelled (iv) and (v) and now the a of the corrective is projected at 5850.
Trying to understand :
Large C continuing in 5-wave structure:
Within that:
1 is done (as per current labels) from 6093 to 5675
2 - corrective is ongoing- can retrace 50%/60%/80% or even 90% of 1 (though large corrective and may turn out to be flat)

Now, as You advised, this corrective- if complex can show mix of ZZ,Flat and triangle.

How we project "a" as ZZ (is this correct since label near 5850)?
Is truncated (v) at near (iii)'s low of 5677 any idea for this ?

Suraj said...

Good Morning Ilango Sir and All Seniors and Friends

venkateshspices said...

Very good morning sir & friends

Prakash said...

Gudmorning master and all frnds

Anandha said...

Sir,
Is there possibility for vth extending ?

Prabakar said...

Namaste Ilango Sir & JN Family

amber said...

Sir ILango ji charan vandan and everyone good morning

sarvesh said...

good morning, sir!

u.k.Raj said...

Good Morning to All.

Sir,

"holding "5718" in the next 2-3 days"
In what way it is relevant.

PRAKASH said...

Financial Tech is going to be next Satyam?

Ilango said...

@ anand ,

These are Hour EW labels and there are other possibilities such as (v)th continuing for more lows and other such scenarios.

As long as prices have not closed above DLEma, there is no confirmed "Pause" and sell on rise continues.

Last two hr lows 5718 has been taken as "continuation of downtrend."

varun kumar said...

Good morning sir ji,
Charan sparsh

Sandeep Koppula said...

Good morning Master. It can't be easier than this! :)
"Ilango said...
Holding "5710", the complex "b" would attempt 5800 again & fall again to complete (b) and then rally higher to 5800+ again, provided "5675" is held for 2 days.
August 1, 2013 at 3:18 PM"

shree said...

weekly S2 ....5726

shree said...

In opening given 30 points opp.....good start

shriram said...

Morning Master & JN Family,

have a gr8 day !

ITradeForProfit Daily said...

SGX Nifty almost 30 35 points above NF. Any underlying indications?

Aijaz said...

Ilango sir aur unka JNSAR ki jawab hee nahi hai...he is like the legendary amitabh bachchan, greatest male actor of bollywood or pretty and hot madhuri dixit, greatest female actor of bollywood..

we just need to trust in his system and SIT TIGHT !

AJIT PATIL said...

Good morning Ilango sir & all Blogmates.

anand said...

Thanks Sir.
With this perspective, even some volatile moves make sense and need not panic.
The dynamism needs to be incorporated in our actions - which needs- as You always say - conviction, faith and action !

Prabakar said...

BNF intraday resistances now at 10170, 10183, 10199

Raghavendra said...

Ilango sir, Deepak Pinto,

Though Nifty marginally stayed above 5676, but Nifty futures has made a new low.
On 5 minutes chart Nifty futures clearly spots a "Diamond" consolidation pattern.

Break out above : 5785 for a 100point +
Break down below : 5742 for a 100 point +

Raghavendra

m.veerasamy Maruthai said...

GOOD MORNING SIR AND BLOGMATES

deepak pinto said...

Dear Ragavendra
I trade only with spot price chart.
For me it looks selling is being absorbed albiet with difficulty.
St up above 820 likely.
In the range.

deepak pinto said...

I also understand that trend is bearish.
But for now bulls will step in is the message of the indicators.
Counter trend
Let us see

satheesh said...

Tatamotors today's High 290.9 and Low 285.75 are at two ends of Symetrical triangle in Hour Chart. Breakout or breakdown would give 10 Points

dharmu mishra said...

respected llango sirrespected shriram ji which indicator is relevant for tracking options pls guide sir and sir why is it so importance of 5718 for next 2 days thanks for everything sir

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