Friday, December 13, 2013

Nifty Pre-Market View.

Nifty, having its hour TA firmly in Red, has turned the Day TA down and is on the verge of making week TA, at the least, a "Sell on Rises", if not "Down" today, the last day of the week.
A 5 sub-waves would be complete from 6273 at the open, if 6212(approx) is held and a sideways move is likely, to be followed by another fall.
Once an exhaustion is identified, it is the "Retracement table" that provides for re-entries till one of 61.8% or 80% is surpassed suggesting a ST reversal.
The hour chart shows a cluster of supports @ 6194-6212 zone, coinciding with 50% retrace. A failure would make prices to impulse down towards 6142, 61.8% or more.
"6237-51", the two pivots are the immediate resistances, followed by 5DEma-6275..

30 comments:

NEVER GIVE UP said...

Good Morning Sir & All Friends.

Manish said...

Goodmorning master and all friends,

BN already retraced 50% of last wave up 11108 to 12226.0.618% now at 11535 and 0.736% at 11400.

Adrian Jose said...

Good Morning Ilango Sir and Blogmates

Hemanth said...

Good Morning Sir and Blogmates...
Have a Profitable Day :)

venkateshspices said...

Good Morning sir & friends

Nilesh Patil said...

Good Morning Master & Friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Trading For Living! said...

https://skydrive.live.com/redir?resid=BE7C624779B57552!133&authkey=!AMUBuO7J1pLKkHY&ithint=file%2c.pdf

mynac said...

Why counter trades must be avoided in trending market?
As market has the inbuilt ability to remain oversold /overbought for certain period/time it is advised to avoid it.
In such cases though,trader tempt to take "that" opportunity,in which, some times they get succeed in it,they normally forget that business turns in gambling.
In such situations due to "that time trend",velocity and momentum,market used to behave madly,which has hidden ability to shatter trader's confidence.
Never try to fight with market.Its supreme always..

DNSHUKLA said...

Good Mng Sir and Friends.

Ilango said...

Trading below 6212, it now appears as the "iii"rd wave in progress from the high of 6273.

Look only for retrace from 6237 fall(iiird wave) to resell.

herry said...

dear sir 6185 is weekly 5ema hold...and above 6212 can bullish move..?

Prakash said...

gudmorning master and all frnds

Ilango said...

Bearish:
6211 6217 ... is 50%-61.8% retrace of the last fall from …… 6237 to 6185

80% is - 6227

If weakness is to return, it should be around 6211 6217

Strength gets confirmed above 6217 OR 6227

Raghavendra said...

Dear All,

4th day in a row - prices have gapped down. Last 3 days, down gaps at the open remained completely unfilled.

Prices failing close the gap between 6230 - 6208 today - will create a "Bearish island" gap .

Piyush Sharda said...

sir,
6257 & 6251 pivots cudnt understand. do u mean 6238 as higher low above 6231 on 6th, still cudnt get 6251??

anand said...

Good Morning.
Master answered before the question was raised for 6212 level.
Now 38% retrace is at 6218 for 6273-6185 fall (first sign to watch?) or 6229 at 50% .
Again both are below the opening gap and within last gap.
Can act as some resistance ?

Thanks Mynac Sir for guidance and re-instating faith to "Never fight with trend" (Untill you are really fast and furious).

ITradeForProfit Daily said...

@Mynac,

Your words make me remember....

"Markets can remain wrong for much much longer than you can remain solvent"

Have a nice day !!!

Parminder said...

Master ilango and friends,
good morning to all
regards

marina s rao said...

GM Master & all blogmates.

Have a profitable day - M S Rao

Piyush Sharda said...

sir,
now i see it. in 1 min chart but sir 6237 candle is because day close has made price higher bar ended at 6234 shud we consider it as pivot because bar gets pulled by adjusted close ? but yes 6238 is clear higher pivot .

Raghavendra said...

@ Piyush Sharda,

Master mentioned 6237 - 51 pivots.

6237 : Week Pivot
6251 : Day pivot

varun kumar said...

Good morning ilango sir and all my blogmates

Piyush Sharda said...

@raghavendra,
yes. thanx.

shriram said...

GM Master & JN Family,

Have a gr8 day !

Stockathon said...

Good Morning Sir and Friends...

m.veerasamy Maruthai said...

Good Morning Sir and Blog Mates

veerasamy

K P Singh said...

Today is 13th and Friday also we can see some wild move in mkt, be cousious.

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