Wednesday, August 7, 2013

Nifty Pre-Market View.

Prices reached month channel support @ 5520.(log scale).
(Both Log & semi log charts are available in JustNifty TA file's month chart).
In the semi-log scale chart, prices have just broken down & has the potential to seek much lower levels.
Considering the downtrending week TA, we have labelled the current fall from 5721 as (i)of 3rd.
Follow the retrace of "5721 to 5522. It should limit itself @ 38%-50% (5598-5622).
Above "5645", 61.8%, ST strength returns. Until then, it is sell on rises.
"Death Cross" has occurred with 50dsma moving below 200dsma @ 5851. It adds to the existing bearishness as long as prices remain below "5851".
Wishing you lots of confidence & peace in your trading room.

35 comments:

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning.

Have a Good Day :)

Vaalga Valamudan.

vksoni said...

good morning ilango sir and blogmates

San said...

Good Morning Ilango Sir and Friends

BANK NIFTY Chart analysis: CLICK HERE

NEVER GIVE UP said...

Good Morning Sir & All Friends.

DNSHUKLA said...

Good Mng Sir and Friends.

R.S. SUNDARAM said...

good morning Ilango sir and everyone

venkateshspices said...

Good Morning sir & friends

vk said...

Namaste Guruji.
Vinay.

rama balaji said...

GM Ilangoji & all Blogmates

saravanan k said...

Good morning Ilango sir & all blogmates,

Rgds
Saravanan

SANPOT said...

Good Morning Ilango Sir and Blogmates.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Sandip Patel said...

Good morning sir,
Diamond top formation on daily chart of NS from Oct 12 to till now. and tomorrow it Brock downside for target of 4700 to 4900.
source: Sharekhan pattern finder.

Guru Krish said...

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

Sandy said...

kizar khan some good thing has happend for you in the form of RBI new governor. Mkt is in a support zone. Some pullback expected and you should utilize the opportunity to exit your position at a reasonable price. 5900 CE time value is going to trouble. After exit you can rethink your new strategy. Holding 5630+ market may have bottomed short term. Market may Oscillate between 5500 - 5700 for some time.

kizar khan said...

Hello Illango Sir good morning and great thanks!!!!,

Yesterday i asked teach you JNSAR one of blog mate varun zee trying to help me , Illango sir now im having 5900 call @20 ...please guide me hold or sell.

Suraj said...

Good Morning Ilango Sir and All Seniors and Friends

Arif said...

Ilango ji,
Good Morning...

Prakash said...

Gudmorning master and all frnds

amber said...

Sir ILango ji charan vandan and everyone good morning

Nilesh Patil said...

Good Morning Master & Friends

Aditya said...

Good morning Sir & all blogmates

I am writing for the first time on this blog.

Sir, I have a query. As per Elliot wave guidelines, corrections (abc) usually end in the area of prior Wave 4 low. Currently C wave is undergoing. Prior wave 4 low was 5477. Can we expect current Wave C to end tentatively around 5477 ? or downtrending weekly TA takes precedence ?

I am a novice hence please excuse if wrong.

ALBELA HOUSE said...

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

Anil Paliwal said...

good morning Ilango sir and blogmates

varun kumar said...

Good Morning Ilango Gurudev and all my blog mates.

dharmu mishra said...

respected llango sir as 5522 is broken should this wave b considered as 1st of 3rd still not completed

Bhushan said...

Good Morning Gurudev and Friends

Sandy said...

Aditya your expectation should work out. Else bahut
kharap time.

shriram said...

GM Master & JN Family,

This is impulsive on any Degree one sees

4400/ 3850 NS coming in next 6 months ?

Who knows wot the Bears dream :-)

Sandy said...

100 SMA Week 5457 / 200 SMA week 5434

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

@ Aditya,

COrrecting "c" ending closer to the lower cycle's 4th wave is just a guideline. It need not always end that way.

@ dharmu mishra,

Hour EW labels are meant to guide intraday.

3rd waves tend to sub-divide; hence, labeling such sub-waves are bound to have errors.

dharmu mishra said...

respected llango sir thanks for ur guidence

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