Friday, September 27, 2013

Nifty Intraday Update-I


51 comments:

anmpatel said...

@dharmu
I am from ahemedabad...trading is my passion. ..
I use positional only with jnsar only...partbook first lot and rest hold till jnsar hit...my professional life dont allow me to trade intraday etc...but when free usme bhi haath aazamalete hai!!!!
I have trust in jnsar like my anesthetic medicine...sure shot.
where r u from?

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Stockathon said...

Thank you Sir!

It was possible only due to your guidance of following a study (in this case 21 HrSMA) which helped in guessing (and not predicting) the closing.

Thanks to V.K.Soni for arranging this contest.

And a big thank you to all those who have wished.

And thanks once again Sir for not only telling us but also instilling the "confidence, the invaluable capital in this world".

Prithvi Raulji said...

@Shriram,

What about goldbees,
Tony indicate that 'b' of "B" over and 'c'start in comex gold.

what about out indian GB

dharmu mishra said...

dear anmpatel i m from mumbai i liked ur word passion same is here this subject of EW is new for me lost a lot playing blindly and now because of this passion only i m reading and trying to update my knowledge. earlier it all use to b a bouncer for me but now understanding a bit day by day

Ilango said...

@ Shyam Biyani ,

I have organised many "missed calls". Thank you.

dharmu mishra said...

respected lllango sir as per pre market view
If "2" done, 3rd will open down but its severity may not be felt today. sir will u pls explain me to ienhence my knowledge why is it so for today as wave 3 r considered furious

Ilango said...

@ dharmu mishra,

Why? Ask yourself this question.

May be you'll find the answer.

If you still find it difficult, I'll surely explain it to you.

Giving an hour to " dharmu mishra", others too can join to enlighten him.

Prithvi Raulji said...

@MASTER,

'ABOUT MY FEAR',

When i see your post and see that EW label for direction , i make a trade,
But when hourly lead indicator which in mentioned in above chart shown me bottom , i m confused about my trade,
Like yesterday, i made short in new series, but this time lead indicator near bottom so i m in fear that it is bounce fast,

So how to negate that fear with lead indicator??

rose mary said...

1. Week TA is yet to turn down.
2. Nifty struck in range of 5800 – 5950 since last 2 weeks, break out either side yet to open on closing basis.
3. Any fall is restricted to DEMA alone; DLEMA holding firmly.

May be if we get closing below DLEMA today (week TA also turn sell on rises)… furious move as in form of 3rd wave will come in next week.

Just my understanding based on TT.

Prabakar said...

Namaste Ilango Sir & JN Family

As of Now, BNF is defending Day Support(10018) & Weekly Support(9987), let's see EOD whether it could hold.

Swagat Patnaik said...

@dharmu

my reasoning is that weekly trend could affect severity of the fall, if any.
also Hr being almost oversold.

master can correct me if I am wrong

Modak Soni said...

@sir
DLEMA and S1 are same, should one take short position below DLEMA-20 or wait for a new low. Thank You.

Raghavendra said...

Dear Ilango sir,

Pivot studies ( combined with 5 min chart ) which you shared and walked us through in June has been quite helpful in "intraday trading" and positional profit booking too.

Link :http://tradeinniftyonly.blogspot.in/search/label/pivot%20trading

With your permission, I would like to share some small rules for the benefit of all JN followers which i identified based on last 3 months on nifty price movements along with some examples.

1. Day pivot levels : Use filter of + or - 5 to 10 points to initiate trade / part profit / full profit booking
2. Week pivot levels : Use filter of + or - 10 to 20 points to initiate trade / part profit / full profit booking
3. Month pivot levels : Use filter of + or - 30 to 40 points to initiate trade / part profit / full profit booking.

Major examples :
1. August month S3 = 5164. Month low = 5119
2. September 19th high coincides with Sept month R2 = 6156 and Sep 20th Week R3 = 6136.
3. September 12th High coincides with Sept 13th week R2 = 5932.
4. Sep 25th Low coincides with Sept month R1 , Day S2 & Week S1
5. Sep 26th High coincides with Day R1 and day low at Day pivot
6. Sep 27th high coincides with Day R1 and low at Day S1...

and many more....

Combining Pivot levels on different time frames along High - Low ema's can be used to set up good trading strategies with out looking at the charts.

Raghavendra

dharmu mishra said...

respected llango sir as per my little practical and bookish knowledge
as there r cluster of resistances in the trading zone
as u said
WHema & DLEma are likely to act as a trading range
i know mere explanation me mere kae bavkufiya hongi pls correct me
thanks

sarvesh sharma said...

@ dharmu, day is in sideways mode(closing above dlema) and most importantly week is in uptrend closing above all low, high and 5 emas last week...this is the day when week trend asserts itself. so, even if 3rd starts we may not find it capitulate today
i hope sir agrees and am sure he has lot more reasons to add

dharmu mishra said...

respected llango sir i understood one more thing Hr being almost oversold. which i completly forgot to apply

Swami Shivkumaar said...

Dear Sir,
Has the D S Macd has turned down and triggered.Or will it get confirmed only at the eod based on the closing. Kindly suggest.
Siva

Ilango said...

@ Prithvi Raulji,

Another reader raised a similar question yesterday and I answered it:

If you combine the "Day lead indicator" which is still down and has just reached below "20 mark", the rises would be unsustainable. Exceptions will be there.

Once day lead indicator turns up, hour would get a booster.

In the meanwhile, if week lead indicator turns down, the day lead indicator turning up will produce "unreliable bounce".

dharmu mishra said...

thanks to all blog mates for there explanations on thing which i was not able to understand thanks for all for ur valuable time

anmpatel said...

@dharmu
if is 3rd then also it will do (I) today and (ii) up on monday..then the real film star.....stay with jnsar is only the solution for me.


m I right master?
thanks.

Ilango said...

@ Swami Shivkumaar ,

Day slow macd is down for 2 days but above the trigger.

Depending on today's close, it is likely to trigger.

Ilango said...

@ anmpatel,

Your answer should satisfy "Dharmu Mishra".

If it is 3rd wave, the severity of it is felt only in the "iii"rd of 3rd which will not happen today.

If it is the "b" wave, it will have two way moves today.

dharmu mishra said...

respected llango sir thanks for ur precious reply i will keep this in mind always in future
thanks for careing somuch thanks sir

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-5950, S1-5916, S2-5884, VWAP-5926

Not much aggressive addition till now, with support getting better around 5800-5700 and resistance at 6000-6100 level. Buy the Support, Sell the Resistance for the day…

Thanks & Regards

m.veerasamy Maruthai said...

IT may take two or three days more to complete the broadening top still pending in the day
chart.

naresh ganesan said...

BELOW 5902 NIFTY FUT WILL TOUCH 5860

prakash said...

Hello Ilango,
I was doing my browsing on market yesterday and found this comparison of which is the best EMA crossover. So wanted your expert insight on this
http://etfhq.com/blog/2013/01/15/golden-cross-which-is-the-best/

Regards
Prakash

Prithvi Raulji said...

@Master,

Thanks for reply,

Your reply make me confidence to improve my trade now and onwards.

Swami Shivkumaar said...

Dear Sir, Thanks for the reply. Just want to know is this D S Macd has got anything to do with 10 D EMA AND 12 D EMA respectively. If this query is so naive I apologise. I have made some observation based on the mentioned EMA's and S Macd which will surely increase my confidence level in holding my positions once taken.

sarvesh sharma said...

@ master, did my reason hold value in reply to dharmu mishra's question? can we perceive it that way also?

Prabhanshu said...

Sir. . what price actions can negate that current wave is b? If it breaches dlema without going up and touching whema/dhema?
Or there is still possibility that (I) of 3 may complete at dlema and (ii) of 3 may complete at dhema where c will also complete and then (iii) of 3 may start??

Ilango said...

@ prakash ,

Our technical approach would have us in a correct trade set up even before " any cross over".

"Cross over", at best could be an additional confirmatory tool and can not be the "sole criteria" for a trade.

I have often found that after a bearish cross over, there is a strong counter trend rally towards these averages and many get trapped during such sharp ST reversals.

One needs to "follow" market at a safe distance of one's choice to do well.

If you get too close, you get addictive.

And if you stay too far, you can at best can become an investor but not a trader.

For a trader, a balance is required. Only by exposure, the trader can find his/ her balance in the market.

Ilango said...

@ sarvesh sharma,

My statement was based on "EW" only. Hence, "anmpatel's" answer fits quite well.

Your answer gives the same meaning but from "TA" aspect.

prakash said...
This comment has been removed by the author.
Prabhanshu said...

Sir. . is that possible for you to provide jnsar values for dena bank and yes bank?

prakash said...

Hello Ilango,
Thanks made note of it.. The below comparison is so much true " If you get too close, you get addictive. And if you stay too far, you can at best can become an investor but not a trader."...

Regards
Prakash

sarvesh sharma said...

@ master, your reply adds to confidence. thank you!

Ilango said...

@ Prabhanshu,

It was stated:

If "a" done, "b" will frustrate the traders.
WHema & DLEma are likely to act as a trading range and break-out/ down.

Interpreted:

"a" done at 5918 yesterday.

"b" in progress. If holds 5855, it would attempt 5910 or more today.

If held below "5887-94", it would make another low towards 5840.

To identify 3rd wave, wave structure alone can guide us and not emas. It is too early to go for 3rd wave.

"b" wave is more in contention. Choppy!!!

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Prabhanshu said...

Thanks alot Sir. Perfect example how one should use retracement table

vksoni said...

ilango sir
Daily tf in sideways range between 5940-5800.if nifty closes below whema today that sideways range shift into weekly as well.Then on weekly tf range may be 5960-5620(whema wlema +-40).in both case nifty may not move above 5940-60.And if moves that is consider a range breakout .is my understanding right?

Ilango said...

@ vksoni,

You have understood it quite well.

DR.SGM said...

Dear sir,the upmove from 5855 entered into territory of 1st wave,so can we consider B wave?

Ilango said...

@ DR.SGM,

There was no (i)st wave identified.

DR.SGM said...

Dear sir, can we consider the yesterday's fall from 5917 as 1st wave?

dharmu mishra said...

Respected llango sir today I gathered so much of knowledge as reply to my query just because of u. Thanks sir

dharmu mishra said...

Respected llango sir today I gathered so much of knowledge as reply to my query just because of u. Thanks sir

GP said...

@ ILANGO SIR

Sir to reduce the whipsaw in JNSAR can we take into consideration the last 5 trading days High or low into consideration to get the more confirmation - for instance when the last JNSAR value was 5924 where we initiated the short position - and on the same day it made a low of 5821 which was the last 5 trading days low - from where the market has reverse - so keeping track of this last 5 trading days High and low can we gauge the strength of the momentum and thus we can be with the JNSAR value if the high or low is broken and closes above or below of the last 5 trading days High and low -and i have observe it has happened many a times it come to the last 5 trading days H/L -so please reply in your leisure time - Thanks

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