Tuesday, October 29, 2013

Nifty Intraday Update-I


kat said...

Good morning Ilango Sir and all the Blogmates!

raman perumal said...

Dear sir,
For learning purpose,
It seems that Head and Shoulder pattern is being formed of Nifty making a left shoulder at 6156 and is in the process of making head with high of 6252 and it may reach around 6050 as per sirs labelling and again a right shoulder may be formed.
Master can you able to see it
Please other seniors also may contribute your views

with regards


Obsessive Lover said...

General observation is that any news based movement is usually in the direction of jnsar.
It naturally fits in the process of jnsar calculation.
Lets see what market does today after policy.

Magic number 6088 as highlighted by master is broken.

Akshay said...

Plz guide JNSAR Traders.
If JNSAR 6157/6153 gets trigger at RBI Policy. Is it considered to initiate long at 6157 or wait till 6157+20. Plz guide..

RainMaker said...

Trend has turned down. Any good news (if any) will only be a pullback to re-initiate position.

It has to be jolly good news (and there is none which can be anticipated as of now) which gives sufficient momentum to take prices above 6252 to turn the momentum up.

marina s rao said...

GM Master & Blogmates.

Have a profitable trading day.

@ Raman Perumal,

Nifty's developing HnS pattern in which Time Frame ? - M S Rao

RainMaker said...

Don't rely on good monsoon, Good Monsoon invariably means rotten kharif crop. See the impact on Onion and now potato.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 10:45AM, Pivot-6128, S1-6075, R1-6158, VWAP-6097

Fight on for supremacy at 6100 level, with boundaries at 6000 and 6200 for the expiry. RBI Governor Rajan Ram is the man to watch…

Thanks & Regards

RainMaker said...

If it rains again heavily as in Andhra / Orissa you will see that ready to harvest paddy also gets rotten.

Good Monsoon is a cliche.

raman perumal said...

marina sir, in hour time frame

raghava said...

Today also Oneside market. So i am expecting Low.

Ilango said...

Prices continue to hover below DLEma & MHEma. Strength only above this.(6104-6106)

Ilango said...

First resistances @ 6132-42, 50% - 61.8%.

marina s rao said...

@ Raman P,

ThanX - M S Rao

raman perumal said...

marina sir, i think now the right shoulder also has been completed at todays high,

ak said...
This comment has been removed by the author.
mynac said...

Nifty Pre-Market View.
Prices have been correcting since "closing below DHEma" four days ago and have reached the earlier cluster supports in NF @ 6100 as well as DLEma less 20 @ 6094. Hour TA shows oversold readings but without divergences.
Hence, if the bounce is able to overcome resistances-1 @ 6135-44(50%-61.8% of last fall), and the resistances-2 @ 6160-71(80%, 21 Hr sma & Wk.pivot), prices would head higher; if not retreat lower.
The high or the low made around the RBI announcement @ 11.00AM could play a critical role.

sudharsan said...

Master Looks 5 waves from completed????

sudharsan said...

Read as 5 waves from lows completed???

raghava said...

Now forget new high this expiry.

Prabhanshu Raman said...

Sir, Can we say that at 6080, c gets completed but could not figure out 5 waves from 6174 to 6080.

mynac said...

Dear raghava,
Nifty Pre-Market View
"Hence, if the bounce is able to overcome resistances-1 @ 6135-44(50%-61.8% of last fall), and the resistances-2 @ 6160-71(80%, 21 Hr sma & Wk.pivot), prices would head higher; if not retreat lower"

So probably,it would be too early to say so...Let us see...Bye...

Ilango said...

@ Prabhanshu Raman,

From 6169, there is a clear 5-wave fall with some leading diagonals in the 1st/ i waves.

If it moves past 6151(80%), the fall from 6252 may be taken as a 3 wave fall and the rise as "B"wave or next uptrending wave.

Ilango said...

@ sudharsan,

Remove the freak low of 6079, you get a 5-waves from 6083 to 6146.

If so:

6115 6107 ... is 50%-61.8% retrace of the last rise from …… 6083 to 6146

80% is - 6096

If strength to return again, it should be around 6115 6107

Weakness gets confirmed Below 6107 OR 6096

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