Thursday, October 10, 2013

Nifty Pre-Market View.

Two MT scenarios:
1. Correction continues from 6143 as a "Flat" with "a" done @ 5701; "b" in progress & end in two ways.
1)Since it is a "Flat", there is no restriction on the retracement.
The "rising wedge possibility", if true, would restrict the rise @ 6033-44.
2)If "DZZ" from 5701, it could rise further to 6100-6126.
Once the "b" is done, a sharp fall, "c", towards 5800 & lower would complete the "Flat".
2. Correction is completed from 6143 to 5701.
A new uptrend has commenced with "ist wave" completed @ 5950, "iind wave" completed @ 5877 as an irregular flat(bullish) and the "iiird wave" has commenced with (i)st almost done.
A retrace more than 61.8%-80% of the "rise from 5877" would negate this now (Presently 5905);
later change the "rise from" to "rise from today's intraday low".
A decisive fall below "5650" without crossing 6143 would be highly bearish.

25 comments:

Bala C said...


Good Morning, Ilango Ji


DNSHUKLA said...

Good Mng Sir and Friends.

Adrian Jose said...

Good Morning Ilango Sir and Blogmates

Prabhanshu Raman said...

Good morning Sir and friends.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Just Trade said...

Good Morning IIlango Ji and All

Wish you a Happy Trading Day.

Regards

JT

vk said...

Namaste Guruji.
Vinay.

venkateshspices said...

Good Morning sir & friends

Prakash said...

gudmorning master and all frnds

m.veerasamy Maruthai said...

Good Morning Sir and Blog mates

veerasamy

Sachin said...

Yes Sirji, conservatives added more yesterday. will part-book some today :)

GM All !!!

Stockathon said...

Good Morning Sir and Friends...

sudharsan said...

Good Morning Master and Friends

Ilango said...

"6033" almost done for "Rising wedge" scenario.

For bulls, keep an eye on 5959 to 6032 retrace now. Below "5970-80", weak.

Sagar said...

@ Master

Master want to ask ,, Rising wedge channel resistance come around 6018 - 6020 level so why 6033 - 6044 . Here Is my mistake that I am going too accurate or you observed some resistance around 6033-6044 to cluster it with rising wedge ?? kindly reply

RainMaker said...

Triangle formation in Bank Nifty : LINK

DR.SGM said...

Dear sir,i am also having the doubt as Ssgar's.pls clarify.thank you.

amber said...

Sir ILango ji charan vandan and everyone good morning

Piyush Sharda said...

sir 35d and slow macd making hh

Ilango said...

I mentioned about "6033" few days ago:

Tuesday, October 8, 2013
Nifty Pre-Market View.

c: 5826+248=6074.(Exhaustion gap @ 6040, last LH-6033, 80%-6055).

Sagar said...
This comment has been removed by the author.
Sagar said...

@ Master

Thank you for reply. so you cluster that with resistance area. Is that your observation.Its trader job to focus.

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