Tuesday, November 5, 2013

Nifty Intraday Update-II


18 comments:

marina s rao said...

GM Master & all blogmates.

Have a profitable Trading day - M S Rao

Prithvi Raulji said...

Looks like a-b-c completed as wave-2 and wave-3 start now

Prabhanshu Raman said...

Sir, have posted my understanding on Nifty Monthly wave counts, need your guidance to validate my inferences or am I wrong in my understanding.

Related to current NS movement:
1 completed at 6247
a 6247-6278
b 6278 6264
2/c 6264 6304.5 ==> 3 started in downward direction.
(i) 6304.5 - xxxx

Does it sound valid???

Piyush Sharda said...

sir,
can u label as u see from 6343

nissan deka said...

dear piyush sharda , would you please throw some lights on Bank-Nifty

Piyush Sharda said...

@nissan deka,
dont track banknifty at micro level for f&o trading

suresh said...

sir ji,
yr method of retracement of 50/61.8/80% is a great help.
one querry.
when price is below 50% ,-sell , but indicating that the trend is up.
then how do v confirm that it will cross 80 % , so that v can wait and
not book profits earlier.
your advice please.
thanks

Ilango said...

@ suresh,

You sell on retrace @ 50%-61.8% with a SL. above 80% is the general strategy.

suresh said...

not book profits earlier @ d-hema + filter, as 80% retrace for ut
is much higher than d-ema + filter

Ilango said...

@ Piyush Sharda,

I have no data for Mahurat trading except the high & the close.

1 & 2 is assumed to have been done on Mahurat trading; 3 at open and 5 with clear 5 sub-waves ending at 6248.

Accordingly suggested the retrace strategy.

It is still too early to state of any changes.

Two scenarios at work as per the chart.

Piyush Sharda said...

thank u sir,
was not able to decifer correction from 6348. was looking like downward move failed at 6349.15 and then up. so asked

suresh said...

sir ji,
can i put my querry with an e.g if you permit

Ilango said...

Holding "6259-70" & moving past "6290" would indicate strength.

Ilango said...

@ suresh,

Your initial query is flawed.

how do v confirm that it will cross 80 % ?

No one can answer that.

Based on observations from diff. studies, we take trades....some like baby steps (intraday) and depending on further confirmations, bigger steps(positional).

suresh said...

sir ji.
I will "JUST FOLLOW"

nissan deka said...

dear Illango sir , would you please throw some lights on Bank-Nifty

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