Thursday, January 16, 2014

Nifty Pre-Market View.

Nifty consolidated @ 6222-36 zone and moved past "6280-6314" cluster resistance.
Next major resistance would be "6343-58", above which is 6382.
Critical support has risen to "6298". Earlier cluster resistance should act as support in case of a correction.
If false break-out, prices would retrace back into the consolidating channel for one last correction as in "ABCDE". "D" being the "false break-out".
"6358" is approx. the WHEma+40.

29 comments:

Bala C said...


Good Morning, Ilango Ji

Anonymous said...

Good Morning...

Prabhanshu Raman said...

GM Sir and friends.

Can anyone see -WW in Nifty 5 mins chart.?
1-6287, 2-6235, 3-6317, 4-6277 and 5 may form at 6227-32 today

Also, hour channel resistence line is not yet broken (in Sir's above chart).

venkateshspices said...

Good Morning sir & friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

DNSHUKLA said...

Good Mng Sir and Friends.

Trading For Living! said...

Good Morning,
Happy Disciplined Trading!!

https://skydrive.live.com/redir?resid=BE7C624779B57552!163&authkey=!AIuYPhkWVg1GEmo&ithint=file%2c.pdf

shiva said...

good morning, Sir and friends..

Devendra said...

Good Morning Master and all friends !

Hemanth said...

Gud Mrng Sir and Blogmates...Have a Profitable day !!

NEVER GIVE UP said...

Good Morning Sir & All Friends.

Prakash said...

gudmorning master and all frnds

Shiv Kumar P P said...

Good Morning Master & Friends !!!

S BM said...

Good Morning Sir and Friends

farmzpro said...

good morning sirji and friends.. have a good day!

kat said...

Good morning Ilango Sir and all the Blog mates!

Ilango said...

5-waves done from 6277 to 6347(@ res.6343-58). More strength only above 6347.

6312 6303 ... is 50%-61.8% retrace of the last rise from …… 6276.7 to 6346.5

80% is - 6291

If strength to return again, it should be around 6312 6303

Weakness gets confirmed Below 6303 OR 6291


farmzpro said...

unless DayHigh is taken out in 1st hour, I would expect spot 6304 / 280 or extreme 6215.. based on opening chart levels.. opened at resistance.

shree said...

Master ..y'day SL hit....today taken short @ 6340 NF....lets see......I am following you completely....but now daily close above DHEMA..so buy on dips or WEEKLY sell on rise to follow.?..CRANE STRATEGY??....please guide

Ilango said...

@ shree,

Use week/ Day for positional trades.

Once the "Crane strategy" signal emerged, the ST suggested a reversal and prices retraced to 80% @ 6358 and fell to 6140 which was approx.20 points below WLEma of last week. It should be used to book profits considering "uptrending month".

Presently, considering overbought Hour, only an intraday trade could be considered.

Tomorrow's technicals based on today's EOD close would offer some clues to weekly strategy besides tomorrow's(last day of the week) price behaviour.

shree said...

Thanks master......but last weeks WEEKLY number still applicable and it shows sell on rise ..(based on close below WHEMA..)..if we wait for tommorrow to close then will not miss thow 40 points? (as tomorrows weekly near 6304..) so better to take positional short today with 20 points sl.....what you think?

Raj said...

Good Morning !!!

Prithvi Raulji said...

@Master,

is rounding bottom seen 6357 to 6164 and breakout above 6357???

shriram said...

GM Master & JN Family,

Have a gr8 trading day !

deepak b said...

Good Morning Sir & Friends.

m.veerasamy Maruthai said...

Good Morning Sir and Blog Mates

veerasamy

GV said...

hi SKS
I HAVE MISSED JNSAR THIS TIME BECAUSE OF PONGAL BUSY..........

GV said...

@SKS
shall i trade intraday by using hour jnsar?

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