Monday, December 16, 2013

Nifty Intraday Update-II


16 comments:

Ascom said...

Hi friends,
How to get added in Just Nifty google group. Please add me too.
Thanks

Ilango said...

@ Prem,

Bullish scenarios:
a) Very Bullish: A 5 waves completed from 5973 to 6415 and a correction is on. If holds 6090 (aggressively) or 6060(conservatively), a "3rd wave" would unfold targeting much higher levels.
b) Bullish: A 5 waves completed from 4770 to 6229 and an irregular correction is on.(a & b completed and the 'c" wave is on and it is too early to understand the nature of this wave).

For Bearish scenario: As long as prices remain below 6415, it exists; only when technicals confirm "bearishness", should we venture to explore the scenarios.

nakshatra said...

@Sir I want to know. If JNSAR hits on stocks then how much points need to be taken to execute trades, like in Nifty we take 20 points above and below JNSAR ?

Prem said...

@Master... Many thanks master...
Please check and advise the below wave count also...
On weekly chart...
a - 6150 to 5450
b - 5450 to 6200
c - 6200 to 5190
d - 5190 to 6415
e - 6415 to will go
Can it form a expanding triangle...
Please advise....

Ilango said...

@ Prem,

"Expanding triangle" possibility has been outlined by us long ago. It continued to remain as a technical pattern.

You must also understand that the "last leg" of this pattern need not reach the lowest point as ET could be a continuation pattern wherein it falls half way or less and then moves higher.

My eyes are on the look out for valid patterns in month, week & Day T/f which are well supported by technicals.

Prem said...

@Master....Thanks again...
so e wave may not reach 5 100... May fold and again break the high...6415....
Is my understanding correct... Please advise if i wrong...

Ilango said...

1.00PM TT & Chart updated. Weakness creeping deeper into "week".

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 1:00PM, Pivot-6207, S1-6180, R1-6225, VWAP-6187

The 6200CE Writers have taken the lead and now a move above 6211 looks improbable for the day, Break of 6169NF will be highly Bearish….

Thanks & Regards

Ilango said...

@ Prem,

The word used is "need not" which means one should follow this pattern carefully by observing other developing patterns as two distinct possibilities remain...

one a smaller fall &

other a larger fall.

It is not a conclusive one.

Prem said...

@Master... Superb master... Great answers... Many thanks... Will back again if i have a query...

Piyush Sharda said...

sir and friends.

http://fukushimaupdate.com/ground-under-fukushima-unit-4-sinking-structure-on-verge-of-complete-collapse/

this link as abt the fukushima disaster and perils of nuclear power. thought it as important
so posted it .

Ilango said...

Just as "6185" acted as support-turned-resistance" on Friday,

"6164" is acting as support-turned-resistance" today.

sarvesh sharma said...

probable 5 from day's high at 6183 and retracement done at 61.8% at 6172. need to see how price behaves here ??????

Prabhat said...

@Master: Since prices moved past 6164 (hourly), what closure would indicate a mild relief rally for probable 6220 levels? Looking at OI table I feel 6300 levels might be gone for this month expiry.

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