Thursday, January 23, 2014

Nifty Intraday Update-III


28 comments:

sony victor said...

Dear Sir, please reply if time permits.

What are the reasons which is stopping this breakout ?

Technically it should rise towards 6375-77 but...

Ilango said...

Strength returns from "6337", a critical point from now on for the day.

Sonu said...

@Ilango Sir,
Does the price action of last 3 days on line chart look like a wedge?
If so, could this be an ending diagonal, with hidden bear attack in making for tomorrow?

Aly said...

@ sony your prayers answered??

ITradeForProfit Daily said...

6337 also developing DHEMA so a close above 6360 will be advantage for the Bulls

Ilango said...

@ sony victor,

I do not know the reason; but I know that market takes its own time:

"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight." - Jesse Livermore

Aly said...

@Sonu:

my take is why go on predicting what it is looking like. just keep the structure in mind and put appropriate stop loss. In this case it can be 6337 as mentioned by ilango sir or the lower trendline of the wedge that you are seeing

Prabhat said...

@Master: With 6350 nifty spot being conqured by bulls, what is the next resistance level?

Ideally bears should allow mkt to rise to 6400 so that they can write the spot for higher premiums & then they can bring it down untill RBI policy meet on 28th. But mkt never listens to all these & they do what they got to do.

Sonu said...

@Aly,
For Intraday we can manage with small SL but how to manage positional trades in this situation?

Prabhat said...

@Sony: After intering into a position in mkt, it takes patience & nerves of steel. Patience comes with great experience & great experience comes with a great teacher. We are so lucky to have Master to guide us whenever we need him.

sony victor said...

Dear Aly, questions still left in mind. Although i am having longs.

Alt. view - nifty shall go above 6358 to post a neg. Div. w.r.t last high of 6358. Time frame - hourly.

how high ? don't know...... just going with the flow but with cautious approach.

Remember only going above 6415 will be super bullish till then might take u-turn from anywhere above 6358.

So i will choose exits at resistances accordingly.

RS said...

@ Experts,

Do you see a -WW in 5 min charts. If thats the case, we can have an inverted hammer today by closing

RS

Prabhat said...

@Sonu: You have day JNSAR @6284 for positional trades. Intraday JNSAR is maintained by hourly JNSAR which is @6331 spot. What more do you want? For intraday, what ever point you are with the trend, keep -20 pts as SL.

sony victor said...

Thank you dear Ilango Sir - your words always enlighten.

My query was just to catch that part if i was missing any.

Regards.

sony victor said...

Dear Prabhat - That's right. But learning is a never ending process.

Shall we not arise technical questions which comes in mind.

Its beneficial for all. Right ?

Aly said...

@ Sonu,

You should manage positional based on JNSAR

Sonu said...

@Aly, Prabhat,
Point taken. Thanks

Mukesh Honest said...

trader baniye analyst nahi, sab jyada saaf dikhega...stoploss kate to accept karo aur bahar aaiye aur next trade set-up ka wait kariye...warna sabko batane wale analyst ban jayenge aur khud ka account dekh kar frustration hoga...

shriram said...

@ Mukesh Honest:

Thats a true line... 1st time you have said something that added value to the knowledge bank, rather than questioning motives .

Thank u

shriram said...

@ RS:

Let the -WW activate 1st...

RS said...

Thanks shriram

Ilango said...

Last rise be treated aS 6327 TO 6356.

6342 6338 ... is 50%-61.8% retrace of the last rise from …… 6327 to 6356

80% is - 6333

If strength to return again, it should be around 6342 6338

Weakness gets confirmed Below 6338 OR 6333

Share & Be Sure said...

Today's market action till now does not inspire confidence

Nifty Trader said...

@ Mukesh Honest

You have done justice to your screen name with your comment. Keep them coming.

sony victor said...
This comment has been removed by the author.
Prabhat said...

Yet another day of very less movement coming to an end.... Looks like mkt will be dull till RBI policy meet next Tuesday after which we may see big movement coming either ways..

Thank you Master & to all. Take care. Tata, Bye Bye.

sony victor said...

So far it has been like this, lets see how waves unfold next.

http://postimg.org/image/talrfu2lv/

vishal modi said...

so as per master guide i triger my stoploss 6330

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