Friday, November 22, 2013

Nifty Pre-Market View.

BankNifty shows a 5-wave "being" completed. Similar observations could be made for Nifty too.
This being a simple observation of pattern, the corrective rise for the 5 wave could take many forms such as a flat, zigzag or even a running correction.
Trend being strongly down, DLEma & WLEma are the key numbers for the day.
Immediate resistances are the running correction zone of "iv"th wave @ 6027-55.
Immediate support for "v", in case trades below "6031" @ open is "5957-68".
Failure to find a ST bottom @ 5946(golden retrace) would indicate weakness towards 200dsma(5862) & lower..

25 comments:

venkateshspices said...

Good Morning sir & friends

vksoni said...

Good morning ilango sir and blogmaates

DNSHUKLA said...

Good Mng Sir and Friens.

Squander Star said...

Good Morning Master and Friends

Wish you all a very Successful Day 😊

NEVER GIVE UP said...

Good Morning Sir & All Friends.

NEVER GIVE UP said...

Sir i have a question, how you reached at 5700 level for wave 2 target on daily chart.
I mean what is the calculation sir.
Please reply when time permits sir.

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

Good Morning. Have a Good Day. Vaalga Nalamudan and Valamudan.

All that is real in me is God; all that is real in God is I. The gulf between God and me is thus bridged. Thus by knowing God, we find that the kingdom of heaven is within us.

- Swami Vivekananda

shiva said...

good morning, Sir and friends..

rama balaji said...

GM Ilangoji & all blogmates

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Prakash said...

gudmorning master and all frnds

Karthikeyan S said...

Good Morning Master and seniors

vk said...

Namaste Guruji.

vishnu said...

Very Good Morning Sir

Ilango said...

@ NEVER GIVE UP,

Based on the pattern, a likely irregular flat", and the weakening technicals, such a labeling is done. If prices show any tendency to strengthen above certain critical levels and if a new pattern emerges, we'll then change the label.

We trade by the ST readings while keeping the MT & LT picture in mind and become vigilant enough to give weightage to larger picture when it matters most...for eg: week trend start to get assertive from Thursday or Friday (In the current week, it did so on Wednesday @ 2.30PM) and the monthly trend in the last week or last two trading days of the month.

gauresh59 said...

Namaste ilango Sir and Friends,

Today's quote received :

We change the world not by what we say or do,
But as a consequence of what we have become.

Everything you see happening is the consequence of what that which you are
~David R. Hawkins.

gauresh59 said...

गुरु ब्रह्मा गुरु विष्णु गुरु देवो महेश्वरः
गुरु साक्षात् परम ब्रह्मा तस्मै श्री गुरवे नमः
With the blessings of all my teachers and gurus, today my blog has successfully completed the journey of three years.
JN group has also played an important role in this journey for encouragement and inspired me a lot.
I am very much grateful to all
!!!!!....Many Many Thanks to all ....!!!!!

amber said...

Sir ILango ji charan vandan and everyone good morning

m.veerasamy Maruthai said...

Good Morning Sir and Blog Mates

veerasamy

raghava said...

Good Morning ILango Master.

NEVER GIVE UP said...

@ Ilango Sir,

Thanks a lot sir.

TAnovice said...

Illango ji, if time permits, can u pls explain how the 6031 figure was arrived at in your pre mkt view??

Piyush Sharda said...

@never give up,

where s the labelling mentioned

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