Thursday, October 10, 2013

Nifty Intraday Update-II


40 comments:

Ilango said...

@ Prabhanshu Raman,

The fall from 6033 to 5980 was a 3-wave structure; hence, it could retrace any % or even surpass 6033.
If could do a 3-3-5.

Or the other bullish (ii)nd done at 5980 and would make sustainable new highs.

Dheeraj Patta said...

Thanks Master, now with your esteemed guidance I am learning as well as applying in the real market...GRATEFUL to You Master !

Alpesh Kanparia said...

Dear Sir,
plz share the Infosys- TA file on group
Regards,
Alpesh

Prabhanshu Raman said...

Vipind : if closes above 55 today, then Ascending triangle pattern will be confirmed. tgts cud be 55+ height of triangle with sl at 49

Raghavendra said...

Dear Ilango sir,

Need help on Wedge understanding from a learning perspective:

I have often associated a bearish rising wedge with a negative divergence in RSI 14 and RSI 9 in 4hr, 1 day and Weekly charts . If there is no negative divergence then its actually a running triangle ( hugely bullish).

Ex: Rising wedge seen in nifty in day TF in 2012 - but with no negative divergence led to rise of 250 points as wave 3. Same scenario in 2010 too.

In current rising wedge, there is negative divergence only in 1 hr TF but not in 4 hr and day TF .

Any other indicator would you suggest for wedges ( rising and falling ) ?

Raghavendra

Aly said...

Is todays movement somewhat similar to the Oct 4th market movement?

Unknown said...

dear Sir. the level of 5976 which you spoke about, is it necessary dat spot must reach/ touch 5976???? or is it assumed dat 5979 is close enough sir???? please throw some light

Ilango said...

Another 3 waves being done- now from 5980 to 6021(+)

anmpatel said...

@master
how to interpret your last comment?
thanks.

Dheeraj Patta said...
This comment has been removed by the author.
Ilango said...

@ Raghavendra,

Rising wedge, when it happens in 5th wave, it will have negative divergence between 3rd & 5th.

But if it happens in 2nd wave, how could there be a -ve div except in the shortest version(say, a & c).

Only the coming days would reveal whether it is rising wedge or a running correction.
Huge OI build up in 6100CE is, presently, a deterrent.

Prabhanshu Raman said...

Inhs in play in 2 mins. . If goes above 6022, then tgt 6076 with sl at 6002

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-6004, S1-5950, R1-6103, VWAP-6037

Not much addition seen at 6000-6100CE level, holding above VAH at 6041 is Bullish, else can see lower levels at 5995…

Thanks & Regards

Alpesh Kanparia said...

Repeat............
Dear Sir,
plz share the Infosys- TA file on group
Regards,
Alpesh

Kiran said...

Since yesterday, we have many hourly closes close to hourly high.

Trader Junkie said...

is there a -ve divergence on the MACD ?!!!!

Dheeraj Patta said...

Master, Can we consider this as 3-3-5 in play as mentioned above with 3s done?

Rakesh said...

@sir,

In yesterday EOD's "Nifty Day & 9 rsi" chart you mentioned 6095 level. Can you plz. explain the logic behind this number.

~Rakesh

Ilango said...

@ Alpesh Kanparia,

Infy file sent.

Ilango said...

@ Rakesh,

When Nifty fell from 6229 to 5119 in an "ABC", 3 waves, the "B" wave top was "6093".

Aly said...

@Rakesh,

I think that is the channel Top for the current upmove

Ilango said...

Another irregular flat in the making....??(3-3-5)(3-3 done from 6033-5980 & 5980-6034)

This scenario gets negated if prices move past 6040-44.

Prabhanshu Raman said...

Pin bar in 5 mins and followed by red candle. . double top in making?? Will get confirmed once goes before days low

Ilango said...

Has "INFY" completed its 5th wave?

OR

Has it completed the (i)st of 5th.

What a "Stalemate" ahead of its results' day !!!!!

Rakesh said...

yes Aly seems so, if ABC ends at 5119, in day T/F possible wave structure looking to me is is like

Impulsive 1st. : From 5119 to 6142.
Corrective 2.A : from 6142 to 5701.
Corrective 2.B : 5701 to Ongoing(may be upto 6095)
For Corrective 2 C : Target could be 5631 or 5510 (50% and 61.8% retracement of 1st wave).

but above are my understandings i am at very superficial levels in terms of wave count.

@ Sir
does mine understanding regd, wave count looks correct. plz. validate.

~Rakesh

Alpesh Kanparia said...

Dear Sir,
Thank you very much
Regards
Alpesh

Ilango said...

Strength above "6026".

ankita said...

it means master is in favour of c down to start.? i will just watch , no shorts from my side.

VRJ rammanohar said...

Taking sup. around 5 Hema. 6003 .possible target 6045

Aly said...

@Rakesh,

I would wait for 5910 break for taking any short positions. This is close to JNSAR level and also breakdown of ascending trendline of channel

Rakesh said...

Has "INFY" completed its 5th wave?
OR
Has it completed the (i)st of 5th.

Sir both statement suggest a correction, then why you used word "Stalemate"...??

~Rakesh

anil said...

Hi all Let us have some contest here... about INFY whether it will raise or fall tomorrow. please give your level with supporting reason.. thank you

anil said...

i will post total views of all in the ending hours..

Ilango said...

@ Rakesh,

If (i) done at 3153 from 3010, the (ii) will be over today itself holding above 3065-82.

Is this the 5th ?

The high of 3188 done on 6th sept could also be taken as 5th.

Infy has foxed many with surprises with such stalemates ahead of results. Only on few occasions, it was clearly readable.

We, traders, would be able to manage it if results are done during trading hours like the RBI regular announcements.(Exclude the unscheduled)

Aly said...

@anil,

My view is infy should gap down tomorrow. Reason being expectation of good results already built in. Ilango sir has already stated that it may have completed 5th. I will go with that view

VRJ rammanohar said...

IV ended at 6003 from 6033 V in progress end the day above 6045

Rakesh said...

Thanks again for the explanation. Can u plz. validate the wave count i've mentioned above when time permits.

~Rakesh

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