Tuesday, December 24, 2013

Nifty Intraday Update-II


21 comments:

Raghavendra said...

Dear Ilango sir,

Referring to 30 min chart : Request your inputs on below

Does the chart pattern from December 11th till Dec 23rd looks like a rounding bottom or a cup and handle pattern.
Rounding bottom is done while - Cup is done and Handle is in progress till 6255 ranges.

Let me know your view.s

raghava said...

Again Pin bar 12.00 candle.(Bear)

SKS said...

Hi Seniors

NS below hrly JNSAR & 5EMA. Shoud I sell to protect my JNSAR profts??

SKS said...

any guidance please just started trading with JNSAR (long on 20/12)

ITradeForProfit Daily said...

@Master,

Is there any indication of BN poised for a break out?

anand said...

@SKS
Such hourly guidance on JNSAR is not readily available. Depends on your risk profile.
Check earlier comments from Master on this. I recall one where a breach of HRJNSAR - msotly when HR close should confirm it - can be considered to reverse positions with strict SL but again its not for everyone. Some may like to reverse on trigger itself

In general these levels could be used to book part and trail with the rest...
Suggest you try a few approaches and see which are you comfortable with... Also your own style, time-frame etc would be relevant.
I am also a learner , and lest I should guide you wrong, wait till Master guides on this OR take your own decisions....

Prithvi Raulji said...

BN Jnsar Hit down side, also wave-2 may be finished, so caution to long in BN

SKS said...

@ Anand

Thanks took a similar call yesterday got stopped out.

marina s rao said...

GM Master & all blogmates.

Have a profitable day

anand said...

@SKS,
Yes ! Stop will happen... But I pray they dont stop us !
Now 6285 gone, yesterday last hour low of 6271 to be breached for weakness- first signs? or NS will take U-turn from here...

SKS said...

@ anand

Yesterday stopped out; today did not take the trade!!!!!!!!!!!!!!!!!!

anand said...
This comment has been removed by the author.
herry said...

DEAR SIR UPDATE PLZ..

anand said...

Dear Master
Is it correct to read that the effect of Bear Flag - upper boundary not breached for negation - , if it happens, shall be confirmed by the critical support 6240-50 giving way, where DEMA and dev DEMA are also placed?

sarvesh sharma said...

respected sir, can we negate the 4th now, and consider that 5 waves completed from 6130 ,it entered the 6263..the 1st wave zone..this probably is new down in 5 or 3?? this wave that started from 6297 can be a C or a 3rd but not C of 4th( counting from 6130

Ilango said...

@ sarvesh sharma,

Many interpretations are possible. But the ST weakness was evident from yesterday's price action. But the damage is limited only so far.

VIX continues to be down. FIIs continue to be buyers.

For EW; Nothing to confirm the 5 waves completion from 6158 yet.
And the 1st wave as per our chart is "6236" and not 6264.

Let the EOD close show some new signals.

Chetna Jethi said...

Sir, the possible count from 6130...please give your input...
to me it looks like
6130-6236,,,wave 1
6236- 6151 as expanded flat
6151-6318 wave 3 as 1.62 wave 1
4th going on( negated below wave 1 high
if sustains..another high to complete a five???....may be around 6370-80
one a bigger time frame..if it is on going B it might end below 6415..

sarvesh sharma said...

thank you, sir!!..i got my mistake while recounting..i need to be more careful...thank you1

Ilango said...

@ Chetna Jethi ,

It is safer to travel 123(as in abc also). The difficulty comes only after 3, especially with prices are s/w between HEma & LEma. One needs to be a bit flexible to trade the ranges.

"6239-48" zone has not been tested yet; this gets revised everyday, trailing..

suresh said...

ns likely to cross 6290

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