Tuesday, October 8, 2013

Nifty Intraday Update-II


45 comments:

shree said...

NF..5977 crucial..

sudharsan said...

Master low risk high reward trade set up @ 5956 0.618%..........

shriram said...

Master,

Fractal wise, 5981-5914 NS fall seems a DZZ sir ?

The fall is vibrating the Oscill on intra candles a lot & price is holding DhiEMA as of now .. OI tho is indicating RES developing Overhead

prakashbkc said...

Thanx Master for reply

shree said...

NF 5977.above which rally expected

Prabhanshu Raman said...

Sir, I have one query regarding patterns. if trend is already up and we found inhs pattern in making, how important it is? As inhs is trend reversal pattern but trend is already up. ??

Ilango said...

@ Prabhanshu Raman,

Go one step further......

Is the trend shows signs of exhaustion or lack of momentum.

"Trend is up" in early stages is good to follow. But when trend shows "slowing down" the only reasonable strategy would be to "Part book".

Experienced hands would aggressively attack ...

Ilango said...

@ shriram,

I see just a 5.

Ilango said...

Retrace completed for the 5-wave fall @ 50% to 61.8% zone.

sudharsan said...
This comment has been removed by the author.
prakashbkc said...

Master,
How do u know retrace completed at 5948 though market still can go high Do u conidering time factor for retracement?

Ilango said...

@ prakashbkc,

I do not know whether it is completed for sure. Sure, I'll know only when it breaks 5913 but that will not give me a trade opportunity.

We have to pick up one trade based on our study with a good SL.

Aly said...

Dear Ilango sir,

Same question as prakashbkc. in fact nifty had broken out of downward sloping channel from days high when you gave your call. would like to understand the reason for knowledge purpose

prakashbkc said...

Thanks Master for reply

Unknown said...

dear illango. Charts show that Fiis r short for 2 days noq, volume for 6/10= 594.14 million, for 7/10= 484.16 million. it seems improbable that they will cover their positions in a loss. but they don't seems to have coverd their positions either yet. I m assuming that the avg sellin zone for them wud have been 5935 zone, { 5945 + 6000)= avg 5930-40 zone. wud u kindly comment. thank you

Ilango said...

@ Aly,

You look at it objectively,

you see a top @ 5979, EW 1st target with hour weakness & Day OB.

You see a ST bottom @ 5913 with a 5-wave down, with trend still remaining "UP".

You see intraday support @ 5950 in morning session acting, now, as a resistrance exactly @ 50%-61.8% retrace zone of intraday fall.

If moves past 5950-56, strength continues.. If not, we look for a close below "5931".

One of the trade could go wrong.

ak said...

thanks master ...very useful for learning

Ilango said...

@ Unknown,

I follow FII's cash market "Buy/ Sell" data only.

I never checked their F&O positions till date.

Their cash mkt activity is net +ve for the last 3 days averaging +650 cr per day. That is a valuable info for positional traders.

dharmu mishra said...

respected llango sir
r we in 3wave as per hrly chart if close below 5931

DR.SGM said...

Dear sir,the move from 5701 to 5980 can be considered as 5 waves?

Aly said...

@Ilango sir,

Thank you very much for the clarification and knowledge

mayank said...

Sir,

For academic purpose...
Is it a " Crane Strategy " set up in SBIN.

Regards

murli said...

If NS close below 5931 then carry short ?

Prabhanshu Raman said...

avg closing = last 15 min average?? Or 30 min

Ilango said...

@ mayank,

Which set up in SBI? You need to elaborate.

dharmu mishra said...

dear sheeram sir
thanks for caring and friendly advice i will definetly try to do so
sir i hv almost lost 8 lk
i m very serious about learning each ad everything in EW ,technicals
but pick up very slow and from last few monts only i came to know about this type of study
thanks for everything

shriram said...

Master,

Its prolly a close @ or just < DhiEMA (like ysday) .. tats a 2nd consecutive close like this...
and the Oscill has gone to OS , on the smaller T/f, with DAY & Wk Still up.

How wud u rate the % probability of this fall being a corrective of some sort ?
Ur EW view is clear to me sir, pl guide from TT angle once.

rose mary said...

Sir,

Trading is "Fun" when you are around :)
Ur reply to Aly adds more strength to my plan

mayank said...

SBIN

It's closing below DLEMA , WHEMA.
Last month it already closed below MLEMA.

Regards

Ilango said...

@ shriram,

It could be argues bothways.

Though week had closed below WHEma 2 weeks ago, downward momentum is yet to appear.

At the same time, though prices have been closing above DHEma since 03rd Oct, the upward momentum is lacking.

It is just a trading time as in a sideways market. But something is definitely brewing underneath....

Ilango said...

@ mayank,

When I stated a "Crane strategy", it means a big trade set up. And in SBI's case it happened few months ago.

It could continue to move lower and finds a "Sell on rises" but it is not a "Crane strategy".

Aly said...

Avg. closing anyone?

Kiran said...

BankNifty from +350 to +35...

Prabhanshu Raman said...

Avg closing is definitely below 5931 if Nifty is held below 5950.

mayank said...

Thanks Sir,

Eagerly waiting for your guidance..

Regards

Swami Shivkumaar said...

Calls are hitting day low wheras NF is not.

Aly said...

On a lighter note:

After seeing Ilango's comments on 5931, FIIs trying to close Nifty below 5931 :)

shriram said...

mmm.. sure does sir.. Thank u :-)

Have a nice day all !

sudharsan said...

Master Thank you Very much for the reply .....Low risk high reward trade setup was excellant

D.S.SASAN said...

Ilango Sir, Good afternoon. Sir, You perfactly calculate in advance the market behaviour. Therefore, we say with Respect.........".Master"/"GURU JI"

arvind Kapur said...

Illango Sir,
Do you a Diamond Pattern (trend reversal) building up with low of 5700 and high of 6150.
Does it not signify a trend reversal to the down side??
Regards
Arvind

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