Monday, January 27, 2014

Nifty Intraday Update-III


35 comments:

Ilango said...

@ sarvesh sharma,

6156.95-6173.6=a
6173.6-6170.90-6174.9-6171.25=b
6171.25-6179.55=c

Nifty Trader said...

5 done from 6356 in 5 mins chart . Looking at day RSI around 40 i think its a "C" unfolding from 6356.

Piyush Sharda said...

sir ,
from 6179.55 to 6151.7?

marina s rao said...

Latest Day Low @ 6151.70

varun said...

reposting sir, please answer if time permits.

Illango sir, you have labelled both (1) (bearish) and 2 (bullish) in the same region in the chart above. Does that mean that either of these will resolve completely in the time to come and the other one can be ruled out (at least for the time being)? What are the levels that would indicate which of these labels is more plausible?

sarvesh sharma said...

thank you, spotted the internals...

saptharshi said...

lllango sir Weekly low ema 6180 - 40 = 6140 any supposrt

Ilango said...

@ Piyush Sharda,

That completed a (iii) from 6179.55 and (iv) just got over.

Prabhat said...

As of now, 6150 is held for the day. Tomorrow is RBI event & Wed (Thu morning for us) is the Fed event.

Ilango said...

@ saptharshi,

If Nifty takes 2 or 3 days to reach that point of 6130-40, the ST TA could adjust themselves and make it a support for week too. If not, it would break.

marina s rao said...

Latest Day low @ 6139.70

Sliding as if there is no 2moro

sarvesh sharma said...

respected sir, (e) of traingle still in contention or gone being e>c

Ilango said...

@ Piyush Sharda,

It is also possible that "waves continue to sub-divide:

6179.55 - 6151.60=(i)
6151.60 - 6162.00=(ii)
6162.00 - xxxx = (iii)

Hence, the last fall retrace from 6162 to xxxx is critical for intraday players.

marina s rao said...

New Day low @ 6137.15

Ilango said...

@ Varun,

We'll consider the decisive level to differentiate the two only when technicals compell us.

wave 2 can retrace to 50% or 61.8% which is quite far. And wave 2 could end @ 23.6% also.

Piyush Sharda said...

yes sir,
6140/6130 historical support. only a black swan can glide thru without effort ,mostly small pause shud be there

Ilango said...

@ sarvesh sharma,

"E" does not fall the way Nifty opened this morning. Hence, we removed that label in "Update-I".

sarvesh sharma said...

i am sorry,,that went unnoticed..i agree to your point..thank you

Ilango said...

6158 6163 ... is 50%-61.8% retrace of the last fall from …… 6180 to 6136

80% is - 6171

If weakness is to return, it should be around 6158 6163

Strength gets confirmed above 6163 OR 6171

Raghavendra said...

Dear Ilango sir,

At what point - we can confirm the "Descending triangle" pattern . Day closing below 6130 or a Weekly closing below 6130 ?

Ilango said...

6156 6161 ... is 50%-61.8% retrace of the last fall from …… 6180 to 6131

80% is - 6170

If weakness is to return, it should be around 6156 6161

Strength gets confirmed above 6161 OR 6170
===========================================

If it moves above 6162, then consider: larger retrace from 6180.

murli said...

ILLANGO SIR

CAN PART BOOK AT HERE IN NIFTY AND BANK NIFTY ?

vishal modi said...

great sir today i am stood at 6247 as per jnsar now book first nifty 6170 nr then another nifty stood now i m stood trading sl of 6170 nice snapshot sir i want to this formula applied on MCX like gold,silver,crude & nature pls send me this formula sheet on my email vishalamodi1975@gmail.com

Ilango said...

@ Raghavendra,

Descending triangle, instead of being a continuation pattern, has turned out to be a topping pattern with prices opening below the rising trendline that connects 5973 & 6140.

One more day's price action is needed to confirm negation for "continuation-pattern".

marina s rao said...

Latest Day low @ 6130.25

Ilango said...

@ murli,

6130-40, last two lows may hold in ST. They are likely to be retested after a pause.

You could part book.

sometimesbullsometimesbear said...

LOL>>>>>ROFL>.......

Formula.....

@vishalmodi.....formula is simple....(x+y=z/x-y)<> X:Y/x-y/z+y * (z+y-x)/log y
;):):).....ROFLLLLLLLLLL

Note chaaapo yaaaa formula vormula ke peeche mat pado...):)

varun said...

Thanks, Illango Sir.

Varun

Raghavendra said...

STBSTB ,

You missed a sigma at the start :)

sometimesbullsometimesbear said...

http://mumbaiwalla.com/shocker-ndtv-probed-money-laundering-tax-evasion/

B said...

As I read some time back chidhu have stakes in stock and comm exchanges too. is it right?

sometimesbullsometimesbear said...

@Raghavji....could not locate the sigma key on the keyboard....:):):)....

What a lovely day as always....Luv and hugs to all....byeee...:):)
Have a nice day.

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