Friday, October 4, 2013

Nifty Pre-Market View.

"5878"-Wk.Pivot, Day Pivot, DHEma- is a key number for the day.
If falls below it, 5835-45 zone is the support-DEma, 200dsma, 38% Retrace, 20 dsma, HrJNSAR.
"5918-33" is the immediate resistance zone.
If moves above it, 5957-70 are the resistances-Earlier highs.
EW:
If 5701 to 5918 is "A" wave, a choppy "B" would be underway the whole day.
If 5701 to 5918 is of 1,2,3 waves, a 4th wave would be underway to be followed by a 5th.
If 5701 to 5918 was of 5-waves, a 2nd wave will be underway to be followed by 3.1.
Read "Global cues" from the Label section.

31 comments:

salimkabani said...

Good morning sir n blogmates

R.S. SUNDARAM said...

good morning Ilango sir. Wish you happy Navrathri. Wish every one for a happy and colourful navrathri

Adrian Jose said...

Good Morning Ilango Sir and Blogmates

vk said...

Namaste Guruji.
Vinay.

NEVER GIVE UP said...

Good Morning Sir & All Friends.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

venkateshspices said...

Good Morning sir & friends

SANPOT said...

Good Morning Ilango Sir and Blogmates

Trader Junkie said...

GM Sir - Interesting, in all three EW scenarios the eventual direction seems to be up , either a C, or 5 or 3. :)

pravin said...

Good morning to all.

Prabhanshu said...

Gm Sir and friends.
Sir, what about the red 1 which you marked at 5700? My understanding was red 2 may be going on and then 3i will start. Also 2nd wave cannot sub divide in I, ii iii iv or v or a b c. Then why we are considering ew scenarios (2 & 3) given in pre market.
Same query for green A at 5700. I was thinking that current ongoing wave can be B and thereafter C will commence.
I am bit confused and trying to understand ew but seems I am missing something majorly. Please help Sir

DNSHUKLA said...

Good Mng Sir and Friends.

Prakash said...

gudmoring master and all frdns

anmpatel said...

Good Morning Master and Friends.

Stockathon said...

Good Morning Master and Friends....

anmpatel said...

@master
which EW this?
thanks.

Ilango said...

@ anmpatel ,

Most likely the vth from 5701 lows.

sudharsan said...

Good Morning Master and Friends

Ilango said...

@ Prabhanshu,

If it is the 2nd wave from 5701 lows, it can have a 5-3-5 or 3-3-3 or 3-3-5 sub-waves.

If it is the B wave from 5701 lows, it could take so many forms....

Having identified the larger EW form, we work on the shorter version for trading strategies...

dharmu mishra said...

respected llango sir
in day/9rsi chart with yestday upmove of nifty and rsi downmove is it the -ve divergence devloping.

Prithvi Raulji said...

@Master,

B have 3 sub wave, so can we assume that this 5fifer is wave B(a)??

Prithvi Raulji said...

@master,

Before i asking ,you quote the reply

Sorry

Thanks

Ganesh IMR said...

Master,

One observation in yesterday's day chart:

In yesterday's Day Chart, 9-RSI has moved down whereas 14-RSI/ 10-RSI in google chart is showing upward movement.

Why this conflicting move in different RSI's, and which one to be given more importance for a short term trade (3-5 days)

Raghavendra said...

@ Dharmu Mishra,

RSI Negative or Positive divergence is observed between 2 corresponding high - lows over a period of time on a closing basis.

Best usage of RSI is on Day and Week time frame and these fail only in 3rd Waves.

Nifty made a close ( 6116 ) on Sep 19th with RSI 9 at 78 levels. If nifty now closes above 6116 but RSI 9 is < 78 then its constitutes a negative divergence.

Nifty made a close (5303 ) on Aug 21 with RSI 9 at 23 and closed at 5285 on Aug 28th with RSI 9 at 29 constituting a positive divergence.

Have a look at Nifty weekly RSI 9 negative divergence between highs on 6112 and 6229 too.

Raghavendra

Prabhanshu said...

thanks sir, clarified. A lot to learn to be independent trader

dharmu mishra said...

respected Raghavendra thanks
is my observation correct in day/9rsi chart that the price and rsi oscillator both r running in opposite direction

Prithvi Raulji said...

@Master / Raghavendra Sir,

Please take look in Infy chart Daily,

The price not rise much ,but RSI rising and MACD constent comes down

Wt does it means???

Please clarify

Ab de Hameed said...

Hi good evening sir! I'm hameed am an engineer, i'm new to the market and i lost some big amount in the market, after that i got an oppurtunity to watch ur blog, it's quiet intereting but i don't know how to use ur technicals, can u please help me teach me.

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