Friday, November 8, 2013

Nifty Pre-Market View.

The (v)th sub-wave of the fall from 6289 would move downwards @ open & likely to reach 20dsma @ 6165(approx.
On completion of the same, a retracing rally/ bounce on the back of oversold Hour would emerge as long as "6144" is not breached.
If the retrace is held below "6219-42" (Try the retrace of 6289 to opening Hour low), weakness would resume.
A close below 6233 would be a "Sell on rises" in week T/F. A close above DLEma would be a Pause in weakness or a ST reversal.
Recollect Nifty Pre-Market View of 05th Nov:
Month has given a positive reversal signal. However, week & Day are in Overbought zone while Hour & Day TA has -ve divergences.
Hence, intra month corrections would be possible.
Couple of months ago, month generated a "Hold sell" with a close below MLEma but the shorter T/F showed highly oversold conditions with +ve div and market started an intra month correction upwards, only to reverse the month trend too.
Present set up resembles exactly of the opposite in nature. We, traders, follow the market from the shorter T/F, keeping the higher T/F in the back ground.

24 comments:

San said...

Good Morning Ilango Sir and Friends

BANK Nifty Chart analysis: CLICK HERE

Adrian Jose said...

Good Morning Ilango Sir and Blogmates

DNSHUKLA said...

Good Mng Sir and Friends.

NEVER GIVE UP said...

Good Morning Sir & All Friends.

Manish said...

Goodmorning master and all friends...

venkateshspices said...

Good Morning sir & friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

GP said...

good morning sir and blogmates

Kumar said...

Namaskaaram GuruJi and Brother & Sisters,

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

A few heart-whole, sincere, and energetic men and women can do more in a year than a mob in a century.

- Swami Vivekananda

Trader Junkie said...

critical day for the bulls - one might call it the last hope if one might...

m.veerasamy Maruthai said...

Good Morning Sir and Blog Mates
Sir the Pre-Market view contains the entire pattern as well as time and ratio. thanks a lot.

veerasamy



rama balaji said...

GM Ilangoji & all blogmates

shiva said...

Good morning ..Sir and seniors..

Prakash said...

gudmorning master and all frnds

Karthikeyan S said...

Good Morning Master and Seniors

Prabhanshu Raman said...

Sir, 6144 is breached at open only..Couldn't understand the importance of 6144 - neither in retrace table....

prakashbkc said...

GM Master,

How u arrive 6144, it is breached does this signify retracing rally is not to come?

vk said...

Namaste Guruji.

Aditya Jain said...

good morning sir and other blogmates,
sir if i want to learn ew where i can learn or anybody can teach me from the blog it will be very helpful.

Ilango said...

6215 6232 ... is 50%-61.8% retrace of the last fall from …… 6289 to 6140

80% is - 6259

If weakness is to return, it should be around 6215 6232

Strength gets confirmed above 6232 OR 6259

Ilango said...

@ Prabhanshu Raman ,

The reason you are not able to understand lies in any of the followings:

You don't put in enough efforts; or

you aren't serious enough' or

your consciousness level is less.

Today is week's last day.

6144= WEma.

Ilango said...

@ Aditya Jain,

EW can be learnt even by a novice effortlessly.

It is like going back to Kindergarten.

Count numbers 1,2,3,4,5 in uptrend in 1st , 3rd & 5th waves..

Count alphabets a, b c (or a,b,c,d,e) in uptrend in 2nd & 4 th waves.

Read through these simple write ups and understand just enough to practice it.

Elliott wave in 4-Parts

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