Wednesday, January 22, 2014

Nifty Intraday Update-III


64 comments:

Prabhat said...

@Master: Looking at how the week has progressed do we give more weight to 6330 as resistance zone or 6300 as support zone?

6300 PE crosses 60 lac + OI. Given that 6200 & 6300 PE have OI highest OI as compared to any calls, can we somewhat hope that nifty is gearing up for big upmove given that RBI meet is on Jan 28th wherein mkt rumours are out that RBI might keep rates unchaged (given the lower inflation + WPI numbers)?

I know technicals should always gain precedence, but just to keep options open, I asked this question. Kindly guide.

Prabhat said...

Also given that such big events (RBI meet) are just 2 days before expiry, the wild swings can make or break an option trader.

marina s rao said...

GM Master & blogmates.

Have a profitable last hour.

shriram said...

Nifty Mgmt on full view... Pharma, FMCG, RIL holding up one end.. banks showing cool off signs ?

GV said...

hai marina....GM

BALA said...

Nifty trying to close above day High EMA?

sarvesh sharma said...

breakkkkkkkoutttttttttttt....i hope so....

Ilango said...

@ Prabhat,

When we follow prices, we should disregard others as much as possible.....

Channel boundary @ 6330 is more relevant..

Prabhat said...

@Master: 6330 broken on upside. Can we add on fresh longs here?

GV said...

@ PRABAT
SHALL I GO LONG?

marina s rao said...

Day Pivot's R2 @ 6344

Ilango said...

@ Prabhat,

Yes. Keep SL @ 6315 and trail it up as hours roll by.

Ilango said...

"6320" could be the 1st trailing SL considering the "big move" started from there.

SKS said...

@ Illango Sir

@ resistance of 6343 shall we sell??

Randhir said...

Dear Sir, Just a thought , wave E is small compared to other waves in triangle chances that the current rise is wace c of wave D unless wave B is surpassed (6358), else a fall below todays low will start wave E. Can it be possible.

Thanks in advance for reply.

marina s rao said...

Upward momentum picking up ?

Share & Be Sure said...

Inv H&S ...neckline broken with Tgt 6370... is this a correct interpretation?

vishal modi said...

ok as per JNSAR now closed as per new SHORT below as per guide

marina s rao said...

@Share & Be sure

Inv H&S which Time Frame ?

Prabhat said...

@SKS: resistance of 3 days broken on upside & you are trying to sell? Master always used to say "Do not swim against the current, it is dangerous.".

Share & Be Sure said...

@ marina s rao,
5 min TF

SKS said...

@ Prabat

R2 Pivot Res is 6344

sony victor said...

http://imagizer.imageshack.us/v2/800x600q90/32/lh31.png

SHARK PATTERN TGT 6341 Completes.

Shorting here with 20 points filter.

marina s rao said...

Longer's Day out started ! Enjoy.

ITradeForProfit Daily said...

Nifty avoids both ND Sir's ATR Buy zone and ATR Sell zone by a whisker

Ilango said...

@ Randhir,

Yes. It is still a possibility.

Presently, no weakness is visible.

shree said...

Master,
Its a selll on rise...on daily as well as weekly...Now it isnear @ DHEMA + 20= 6338..can take a short ..as per your regular theory???

sarvesh sharma said...

respected sir, tatasteel puts up a good show after yesterday's move.. it completes 2nd wave as a flat retracing 23.6% of the whole up move and started up trading at new highs now..wave 3 startes , sir???? please give your opinion on this interpretation.
thank you!

Share & Be Sure said...

@ Sony Victor,
-WW failed, JNSAR Long already, Nifty broke tremendous resistance at 6330.... still shorting?.. How powerful is a Shark Pattern? Means if you have quantification, please let us know

Kiran said...

6300 PE was heavily written today... I don't know whether it was like this since afternoon only now it increased.

Share & Be Sure said...

Also possibility of iii of 3 as per Ilango ji's views( available in chart)

Randhir said...

Dear Sir, Thanks a lot for reply

marina s rao said...

Day High @ 6349.95

Day Pivot R2 broken.

Nifty Trader said...

Bbreakout is here but 6376 is daily upper bollinger band as well. check in the table.

Will have to see how prices behave at 6380 levels.

satheesh said...

@ Sony victor,

when seen in continuation with the previous patterns, it is the last leg of a Bearish crab pattern, XABC @ 6358, 6129, 6345, 6246 and now the expected target for the pattern would be 161.8% - 224% of the leg 6345-6246 which comes to around 6410-6450 NS

Aly said...

me also thinks 6368-6380 range will be crucial for this upmove

sony victor said...

@Satheesh, there are many patterns. Its up to us which to follow.

Ilango said...

@ shree,

Nifty reached "6348" which is DHEma+20. But the "time" for shorting is not there and a new signal would emerge in 15 minutes.

If you can manage a trade in 15 mins, fine.

sarvesh sharma said...

5 waves done,,correction on,, 6331-30 important

Raghavendra said...

@ Ilango sir,

A lively note. Thank you

Ilango said...

6335 6331 ... is 50%-61.8% retrace of the last rise from …… 6319 to 6350

80% is - 6325

If strength to return again, it should be around 6335 6331

Weakness gets confirmed Below 6331 OR 6325

Prabhat said...

@Kiran: 6300 PE was added constantly since morning.. Even before nifty made move above 6330, already 10L was added.

Bulls are good unless they have closure above 6330 (past 3 day resistance). failing to do so will gain result in more pain & grinding.

sony victor said...

For Shark pattern to complete min. is done. May test the last swing high of 6358.

But as soon as the min. is done taking calculated risk is worth for aggressive traders.

i did my time let prices confirms.

There is another pattern which may emerge above 6358 or so. Which i will focus only when that certain level is breached.

@ Share & Be Sure - Dear Every pattern is powerful if the implementation is done perfectly.

Not trying to predict just following with my knowledge.

Thought to share after long time.

if i am disturbing someone then i am sorry i will not comment then.

Learning & Earning silently & slowly as our Dear Ilango Sir says.

thank you.

herry said...

dear sir nifty today not cross 6358 close below so exit long..?

Share & Be Sure said...

@ sony victor,
Please continue to share your knowledge & strategies

shree said...

Master .
I am asking positionally

Aly said...

ok things starting to get interesting now :)

herry said...

dear sir buy hold for tomorow ans plz sir...

satheesh said...

@ sony victor - I posted my view :)

Raghavendra said...

@ Herry,Ilango said...

@ Prabhat,

Yes. Keep SL @ 6315 and trail it up as hours roll by.
January 22, 2014 at 2:45 PM

Ilango said...

"6320" could be the 1st trailing SL considering the "big move" started from there.
January 22, 2014 at 2:46 PM Randhir said...

Dear Sir, Just a thought , wave E is small compared to other waves in triangle chances that the current rise is wace c of wave D unless wave B is surpassed (6358), else a fall below todays low will start wave E. Can it be possible.

Thanks in advance for reply.
January 22, 2014 at 2:50 PM Ilango said...

@ Randhir,

Yes. It is still a possibility.

Presently, no weakness is visible.
January 22, 2014 at 3:00 PM
Ilango said...

6335 6331 ... is 50%-61.8% retrace of the last rise from …… 6319 to 6350

80% is - 6325

If strength to return again, it should be around 6335 6331

Weakness gets confirmed Below 6331 OR 6325
January 22, 2014 at 3:15 PM

All for ourselves..we need to act..accordingly

Share & Be Sure said...

Ilango said: "B - D" line has its resistances @ 6340+ and 6348 would be today's DHEma+20, also the last peak - these are critical resistances for the day. Big upsides above these.
Holding 6284-94 and moving past 6330 & 6348 is a simple bull view.
Staying below 6330 and break below 6276 & 6260 is a simple bear move.

Share & Be Sure said...

@ Raghavendra,
Well said

sony victor said...

Two patterns which i am eyeing on.

http://imagizer.imageshack.us/v2/800x600q90/855/78ua.png

Share & Be Sure said...

@ sony Victor,
Thank you.

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