Friday, December 13, 2013

Nifty Intraday Update-I


S BM said...

Good Morning Sir and Friends.

amber said...

Sir ILango ji charan vandan and everyone good morning

anand said...

Dear Sir
A question on MT since we are already in 3rd wave on daily t/f now and time see a larger t/f for a crane strategy...

There is rising wedge marked by you in weekly chart in TA File.

With weekend today and week being medium term trend, at what point its break will be bearish ?

1. If it breaks down, it will retrace entire rise - certainly on a longer time frame ?
2. Will the breakdown point be (as per rising trend line) last week low of 6150 or 2 weeks low or 6030 ? Though a 6150 break will turn the week down as well ?
3. Negation would be above ~6500 on weekly t/f, as per upper trending lines ? Till then sell on rise ?

This is certainly not an urgent query. Please take your time.
I would request other senors also to share their views, if the above are pertinent.


sudharsan said...

Good Morning Master and Friends...@ Master request for Tata Motors views

kat said...

Good morning Ilango Sir and all the Blogmates!

gs said...

@satheesh thanks for charts simple and informative

cooldent said...

Thanks for the charts satheesh madam

Aditya Jain said...

gm sir and other blogmates,
sir last time i asked about ew as from where i can learn the basic of ew and generously u replied me back with the basics and sent me the link. I have read but still have one question right now as when you open your terminal i have sharekhan, how do we identify which wave is currently on and how to get into trade.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-6280, S1-6242, S2-6219, VWAP-6225

The level of 6300 is more or less sealed for the day and maybe the series, whereas addition of note is only at 6100PE though 6200PE writers holding on…

Thanks & Regards

anand said...

@Satheesh Mam :

Really good and simple !...Gives some good ideas to look at the moves and some new patterns to learn.
Thanks for charts. 6185 is supporting the fall as of now.

But if the 6185 gives way-> Your charts for ABCD target is full retrace of rise from 5972/6000 ? Does this pattern also give time frame as well ?

Supporting : It is coinciding with expanding triangle in weekly t/f also !

Ilango said...

@ anand,

The week Crane strategy: The location of candle stick pattern plays an important role.

The last upward reversal of "piercing pattern" happened near the "Upper end" and hence it did not have a major impact on prices.

The current week's "Dark cloud cover" or Bearish meeting line, depending on today's close price would be more relevant considering its location.

Each T/F would have a break down point. Depending on your strategy & your style, you choose.

Following happens when we start from the higher T/F to the lower T/f and whenever a potential reversal is possible, technical set up synchronises with either overbought/ oversold or Divergences to reinforce our conclusions.

The "first candle" on Monday after a strong break-out was a "Red" one and a subsequent red made it an "Exhaustion", reinforced by weak hour, day & an oberbought week. (Week is yet to confirm this by EOD)

Our application should be relevant only on such critical reversal points. Other times, we should be following a trend or trading a sideways market.

satheesh said...

Thanks gs,cooldent and anand.

Anand, the pattern does not specify a Time frame - it only specifies the % retracements. As per the pattern, the long leg BC must be strictly within 161.8% and 224% retracement of AB, and the point D must not exceed 61.8% of BC.

For detailed study :

Ilango said...

@ Aditya Jain,

Understand the larger wave as per month T/F first. You may come up with one or two scenarios.

Then, look for sub-waves in week T/F and

work it down to Day...Hour...& lower.

This way, the Shorter T/F waves reinforce your choice of larger wave or helps you to choose the alternative.

Whenever the scenarios become more than two, wait for more clarity and understand that market is either consolidating or distributing and make your trading/ investing strategies accordingly..

prakashbkc said...

GM Master,
Is 5 wave downmove from 6415 ccompleted?

sudharsan said...

Request Master and Seniors for Views on TATAMOTORS

Manish said...

6176 is 20 DMA & also Middle Bollinger Band. Took support from there.

anand said...

Thanks a lot Master!
Have got a lot to study this weekend with this detailed reply on various factors.
And Yes as you said.
In recent times, the breakout on Monday with 3rd exhaustion gap and large red candle on Monday gave some idea of gap filling due to week t/fs Sell on Rise and expanding triangle's upper line gave support to bearish view while entire news/analysts were shouting for 6500/7000.

Thanks again. May God bless us with wisdom to make meaningful use of your efforts and guidance.

And Thanks Satheesh Mam!
Have got these materials but seems I should focus on simple trend patterns first.
Have not been able to see WW and other harmonics patterns easily on charts till now.

Prithvi Raulji said...


Can we consider that it will 'c' wave or it fixed as a wave'iii'??

D.S.SASAN said...

Good Morning Sir and Dear Bros. & Sists.

Abhi said...


Just wanted to see if my understanding is ok or not.
Right now if one needs to play with Crane strategy, it should be sell @ 6220 - 6230 with SL 30 pts.

Could u plz comment on this.

Aditya Jain said...

sir is there any specific platform shall be used for more clarity. I use sharekhan terminal but is there any other terminal shall i use to get more clarity.

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