Friday, October 25, 2013

Nifty Intraday Update-I


52 comments:

herry said...

sir..(4th) wave done 6174...? and (5th) start..?

anmpatel said...

can any JNSAR follower guide me about today's JNSAR position?
it hit short in opening session and also hit 20 point SL 6158, again long and again hit sl at 6138 now i am in JNSAR short with SL again 6158..
i am not posting a CALL but i dont know every time market consolidate around it i have always MINDBLOCK....

can u help master?
thanks.

Prakash C said...

@Anmpatel

I did the same. But alternatively second time when i saw Master's comment as 'if hold 6133' i took 2 lot call option and covered near high and exit short.

Kailash said...

Although today's JNSAR is hit but not yet triggered a SHORT as filter of 20 pts is still not invalidated

Prakash C said...
This comment has been removed by the author.
Prabhanshu Raman said...

@ANMP
current jnsar position is long. Sl for short position at 6138 hit twice at 6158 and sl for long position at 6158 hit once at 6138.
Net net position is long from 6158 with sl at 6138

Ilango said...

@ anmpatel,

EW: Showed 5-waves completed and a trail below 6225 as a confirmation.

TA; Showed -ve div @ OB zone in both Day & Hour.

OI: Showed 6100PE unwinding after a long time.

JNSAR Traders could use the above information and manage their trades using some filters and "Sell on rises" around 6152-72.

RainMaker said...

JNSAR is basically EOD setup. It is always better to take position closer to 3:30 PM when we know where it going to close wrt to JNSAR. In the process we may be let go off 20-40 pts, but there will be lesser whips.

Atleast, one can wait for hourly candle to close below/above the JNSAR to take position during the day. Everytime JNSAR is hit and one takes position it creates too many whips. although we have 20 points filter, but when the price is hovering over JNSAR values it is bound to hit many times on either side.

My two cent based on personal experience.

Prakash C said...
This comment has been removed by the author.
HARISH TAHKKAR said...

Note :1st Hour clsoed > 5 LEMA is a pause.
D > DLEMA
W > HEMA
Roudning above JNSAR is best buy SLO HLEMA -15

Prakash C said...

Prices contracting in 2 min chart b/o or b/d

varun kumar said...

@Dear Anmpatel ji,
I taken the short position on Jnsar hit and holding the same with 6166 orb value (generated from toby crabel method) so I managed myself from today whipsaw till now.
thanks

shree said...

Master...one querry..

in last 4/5 days we have experienced that your 3 scenarios working...but same time JNSAR was showing uptrend and there was buy on dip.....in such a situation you violate the rule/guideline and take short at higher level (6220/6240)? or wait to emerge a signal sell on rise to take a short.....what you prefer? and how you trade in those mixed scenario...your guidance will make my opinions strong as I trade both ways.....

anmpatel said...

@master
thanks for detailed reply...but i want to keep all noises away from great JNSAR no....many time i show it solely remove all noise...so keeping it simple...but when prices fluctuate like today i have always MINDBLOCKs thats why i was asking...i can tolerate one whips...but two makes me little bit nervous...and 3rd make me depressed....thants why i mailed u in past, my method is right/wrong to trade with JNSAR and also requested you to writeup proper method...but u seems busy...if possible please give some writeup how to manage simple JNSAR with example of todays price action. thanks.
thanks a ton.

ITradeForProfit Daily said...

My two cents belief is that instead of having a fixed SL of 20 points, it is better to have a SL based on the current developing trading range.

Today's ATR is 82 as of now, and hence a SL of 30 to 41 points (35% to 50% of the ATR) is prudent.

That way the market has to turn that much against you, to prove your entry as a wrong one.

However, the risk to expected reward ration has to be managed on individual levels.

sometimesbullsometimesbear said...

After 13 days of straight longs without a single whipsaw today is a simple whipsaw day for JN

Salute to Ilango and his enterprising spirit......:):):)

Hope ISI doesnt start fingering here also...:):):)

J.R.Julius said...

Good Morning Sir & Blog-Mates, ♥
Have a Happy & Prosperous Day.
-
@Anmpatel,
Till you have strong belief in the system. Your mind can be blocked.
Hang your brain when you think to put order in your terminal.
All you need is belief in the system. To develop Strong belief in
JNSAR/any trading system is here:

1) Have clear rule [Entry, Partial Booking, Exit, Reversal, Adding Position, Gap Against] etc.
2) Practice your rules with small trades.

This will Strengthen Your Mind. With out strong belief flaw less execution is not possible.

Trust the "Law of Averaging"

Means our ultimate goal is not to win this current trade, but winning the overall.

JNSAR structured with good money management [Trust this First]
As a system it will give many small losses which will be overcome by the
few big winnings.

Ilango said...

@ shree,

Let us not confuse ourselves in the useage of studies.

EW, if mastered, would give the lead which will not be available from any other studies. Know this to be the most aggressive study of all and the "Risk" and Reward" from it also will vary from other studies.

TA, practiced by most but misread by majority due to subjectivity & opinions, would come second in generating signals such as -ve divergences, loss of momentum, trend confirmations, etc.

JNSAR, being the most conservative of all, once confirmed would produce decent gains. Readers often forget to manage their trades using our oft-repeated
JNSAR Trading in Sideway's Market

Prithvi Raulji said...

@Master,

Can we said that 5701 was 4th wave and 5th finished at 6252???

Please

Billu Badshah said...

Good Morning Illango sir.

anmpatel said...

@master and JRji
i am fully trusted and faithfull to JNSAR, not blaming anybody...only making my doubts clear like all ask master about EW etc....basically i want to confirm my method for managing JNSAR trades...JNSAR is GOD here and i believe it blindly.

yes, master i also know how to manage it during range bound market....but it when price moves away one can book partly,,,i am only confused when prices behave around it like today...

hope u can understand my problem...

thanks.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-6196, S1-6125, S2-6076, VWAP-6151

In 2 days time the Option Table from highly Bullish mode has gone neutral with fight shifting lower at 6100 from 6200 level, Sell on Rise till POC at 6183 is not taken out…

Thanks & Regards

cooldent said...

anm

when it comes to jnsar i blindly like a robot trade it with all the whipsaws.

Billu Badshah said...

Although unnecessary, but i would like to share what i do in these situations. If JNSAR hits in morning i take position with one-third of my full position size with stop loss of 5EMA and if on close market favors JNSAR then i resume full position size but if not then opposite. I generally dont carry position if market closes between JNSAR and 5EMA. Hope somebody finds it useful.

prakashbkc said...

GM Master,
How would u recognise/identify unwinding of 6100PE as Option table showing addition of 7lacs in 6100PE?

rose mary said...

JNSAR gave 250 points from last trade.. tool one whipsaw so far.. 20 points loss.. if 6133 gone.. 35 more...will reduce quantity to half and take next position.. say if 3 more whipsaws... means 60 points.. counts to 115 points of max loss... once trend is confirmed on either side.. JNSAR will return me 115 as usual.. & much more :)

Note: This kind of 5-6 whipsaws are very rare as per my exp.. however next matured JNSAR trade will cover all losses & fetch you more gain also!

Try max to minimize the losses, profits will follow automatically... this is what i understood in last 2 years of my experience with JNSAR!

anmpatel said...

@cooldent
i know...but as of now JNSAR changed to 6152 so how to manage it...i was asking only it...should i hold short with 6158(6138+20) or now nifty trading above 6152 so should i wend long with sl of 6132(6152-20).OR remain short with sl of 6172(6152+20)....only problem is how to follow this great system...there is no problem in all other things...and if i go o long at 6172 what will be stop and reveres point 6152 or 6132!!!!
hope u can guide...

rose mary said...

In above post of mine.. read max loss as 85 points (as i trade with half quantity after 2 whipsaws)

anmpatel said...

Are DOSTO....
not counting points...profits...whips....losses...confidence...i just wanna know how to follow only.....when JNSAR change to higher/lower than TT....in such kind of scene....

salimkabani said...

I think one should go for long beyond 6172 and go for short below 6132. This might be the best strategy which I would like to follow.

Sonu said...

@ Master,

Considering the 5 wave down, can we conclude that the corrective will be a ZZ (5-3-5), which will show itself in the following way (unless it turns into a complex corrective):

1) After completing the 5-down, Nifty can retrace max 61.8% of the fall from 6252
2) Retrace will be followed by another fall of about 150 points.

Or is it premature to expect Nifty follow this map.

RainMaker said...

sometimesbullsometimesbear said...

After 13 days of straight longs without a single whipsaw today is a simple whipsaw day for JN

@

The going is good so long as market trends. After a couple of whips one gets a big move and get into overall profits. But there are occasions, when market remains sidways for longer periods. And we get into mess.

I do trade on SAR calculated by own parameter and quite closer to JNSAR. There were few occasions in June 11, July 11 and Oct 12 when market remained sideways (with in very narrow range) for 10-15 days at a stretch. Do yo know what happened every day 2-3 time SAR would get hit for all those days, I believe so would have been the case with JNSAR too.
Unless it is been managed by some other studies, there is now way we can avoid whips.

JNSAR is a trend following method so long as trend is strong it yields handsomely.

salildali said...

@ anmpatel
My two cents. No one knows when trade taken on JANSAR will work at the very first time. If your stop loss hit 2 times then instead of taking jansar trade for 3rd time consider it as range bound market. and wait for clarity to emerge and check whether market is closing above dhma or below dlema around 3.00 pm and then trade as per next day JANSAR value.

prakashbkc said...

GM Master,
How would u recognise/identify unwinding of 6100PE as Option table showing addition of 7lacs in 6100PE?

Ilango said...

@ Prithvi Raulji,

NO.
But you can treat it as "ABC" (alt.view) because it looks more like a 5 done @ 6143 & an abc @ 5701 and another 5 done @ 6252.

Sonu said...

@anmpatel:
As per my understanding from master's write-ups on JNSAR, take short @ 6152 with SL @ 6172 (and reverse also)

6172 - Go Long with SL @ 6152

For Longs carry over: Closing should be above JNSAR
For shorts carry over: Closing should be below JNSAR

Ilango said...

@ anmpatel,

Having traded using JNSAR for more than a year, you shouldn't be having doubts. It shows serious belief issue or your inability accrue experience.

You must work on your temperament and your past trade experience should make you relaxed in trading.

Ilango said...

@ prakashbkc,

I do not follow OI. It is based on inputs from readers till yesterday EOD.

shree said...

Master....
sorry..but still didn't get answer...or my question might not have proper draft....I just want to know...EW was with strong signal to short @/around 6220...but JNSAR was not accordingly and even DAY /WEEK TF was not accordingly.... AS CLOSING WAS ABOVE 5DEMA......in this case you taken trade on EW which is against JNSAR and DAY/WEEK TF.....

prakashbkc said...

Thanx Master for reply

anmpatel said...

@master
ok. sorry to disturb you.
i am relaxed trader in term of JNSAR...but only wanted to know how to manage....that's all....

and one more thing on LIGHTER SIDE.....trading is less risky and not so adrenalin secreting...than giving anaesthesia to patient!!!! so there is not matter of temperament....i think i should study more what happens after u changed JNSAR....like today will remain short below 6172...

u are my respected teacher here....(like in college) we should always ask our teacher na...how to manage this as a part of learing.....

thanks again...will not disturbed anybody in matter of the GREAT JNSAR. god bless you.

Prabhanshu Raman said...

Sir can you please share the preferred/visible counts for the fall from 6252, esp from 6173. I m getting confused
ii - 6252-6225
ii - 6225-6239
Iii - 6239-6143
Iv - 6143-6173
After this I m unable to understand

Ilango said...

Most Traders have very short memories.

And they get whipped time & again.

That is why "Patterns" work well in the market, courtesy "most traders".

If you want to get out of this "rut", remember always your past experience. It helps tremendously.

Whatever has been learnt so far is enough to navigate the market for the rest of your lives.

Hasn't this made simple with identifying

a trending market and

a sideways market...

Are you not supposed to use different style of trading...?

Even if you have "limited knowledge", your returns could be phenomenal if you are consistent.

Never compare....Stay true to your studies, whatever they may be...

Ilango said...

@ Prabhanshu Raman,

"Not able to understand" stage is reached when "B" waves unfold.

Take the fall from 6252 to 6133 as a 5 wave fall, "A" wave or "a" wave.

Now "B" or "b" is unfolding..

RainMaker said...

Completely agree with Ilango.

Identification of the market is the key. Application of the methodology should be based on the type of market.

But there is always cost of learning, every trader has to pay.

Ilango said...

@ shree,

I have answered you quite well.

Read again.

You are, in vain, attempting to compare a "Mechanical trading" with other "trading methods" based on "our observations & application to arrive at conclusions" as in EW, TA, OI, etc.

Sanjay Jaiswal said...

prakashbkc said...
GM Master,
How would u recognise/identify unwinding of 6100PE as Option table showing addition of 7lacs in 6100PE?

Unwinding was seen yesterday EOD, first time in many days to confirm weakness...

Unknown said...

6130,45 NS is 10SMA as per EOD chart. the market has been shorted for da past 3 days continously, A break below 6130.45 n not being able to sustain there will render the market to fall to 5995 Ns. illango Sir has bin pin point accurate in his observations, i have made a killin by just sellin at his resistences and buying at his supports, the only one time I went against his observations saw me loose money. keep it simple as he says, the lesser said the better done. keep ur eyes open, and not ur ears or mouths

Unknown said...

i once was illango's biggest CRITIC. Was like a MAEVERICK then, m calmer now and one of his biggest silent Fans. just follow him with ur eyes closed

Unknown said...

Never DOUBT da man who shows you the way. Remember always, that he's been down that path before you and more than u ever have, he knows each and every corner you can imagine and he knows the safest and best path to be taken

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