Thursday, January 30, 2014

Nifty Pre-Market View.

Nifty "paused" for one day....and another day..;
Such pause should not distract the "Trend followers"..
Markets are never identical; each set up has different combinations; the risk-reward changes in your favour as the TT becomes more Red during downtrend or more green in uptrend.
"Reading Oscillators" has stressed the point of reading them in context to "Trending" & "sideways market".
Learn to differentiate these two and learn patience.
Wednesday, January 29, 2014 Nifty Pre-Market View:
There are two clusters in the chart below: 6162-71( & 6189-2 DH) and another @ 6222-25.
6098-6108, 61.8% - 80% of last rise are immediate supports.
"6189" being week's 26ema would signal strength/ weakness for this week..
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Nifty stopped @ 6170 and fell to 6110.
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Ilango said...January 29, 2014 at 12:17 PM
Since the rise from 6086 to 6170 is a 3-wave structure, it could be a "Flat" which would mean a trading range of the same. Besides these, 6130-40 provided crucial support on 2 recent occasions.
Now the attempt to stay above "it" is on. There will be sellers between 6163-89, last two day's highs. hence, break below 6130-40 could be taken as weakness.
Trading during "pause" requires very careful trading....as in a "b" wave.
If not, simply flow with the trend till it bends.
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Be daring to state the truth..the truth derived objectively from your studies. A failure here & there owing to market's unpredictablity should not deter you in your application of your studies.
This world needs more & more of "truth seekers" to be bold and forthcoming...
Shun the "attention seekers" for their "ways" are not built with dependability.
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For today/ tomorrow: Holding below 6145-6158, correction would attempt initially 6071, and then 30wk sma @ 6002/ 200dsma-5971 in a day or two..

28 comments:

anand said...

Good Morning Master,
Yes. Patience pays! Now week month and expiry day effect today...! Interesting times....more to learn! Thanks for being there. We cannot count our blessings anyways...with you as a mentor...these get exponentially numerous. !

San said...

Good Morning Ilango Sir and Friends

Reliance Communication chart analysis: CLICK Here

Squander Star said...

Good Mrng Master & Blog mates

"The right attitude very rarely leads to the wrong action." - TomZiglar

Happy Day Guys

NEVER GIVE UP said...

Good Morning Sir & All Friends.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Kiran said...

It's amazing to see JNSAR caught RBI and FOMC event with perfect timing.

Nilesh Patil said...

Good Morning Master & Friends

Hemanth said...

Gudmrng Sir and Blogmates..Have a Profitable Day !!

DNSHUKLA said...

Good Mng Sir and Friends.

vksoni said...

good morning ilango sir and blogmates

vksoni said...

Friends today is expiry and lets have a contest here.
January Nifty Expiry Guessing Contest.
The rules are simple- There are only 3.
a) Just call out the series close forJanuary
b) No wild guess. A reason is must. Everybody must give a expected close figure and reason for that.
no range (4000-4050) ,only one figure e.g.4000
c) You need to do entry between 9:15 to 2:30, hurry up

Seniors plz contribute.

Prakash said...

gudmorning master and all frnds

ITradeForProfit Daily said...

@vksoni

My expiry level 5965 200 day simple moving average.

shiva said...

good morning, Sir and friends..

venkateshspices said...

Good Morning sir & friends

prakashbkc said...

GM Master

Today gap & monday gap can be called running gap or we should wait EOD?

Hemanth said...

My expiry level is close to 6110-120..near 100 DMA.

Squander Star said...

@vksoni

My expiry level 6003 30 wk simple moving average.

m.veerasamy Maruthai said...

Good Morning Sir and Blog Mates

veerasamy

kat said...

Good morning Ilango sir and all the Blog mates!

shriram said...

GM Master & JN Family,

Have a gr8 trading day !

Magesh Waran said...

goodmorning illango sir and blog mets

deepak b said...

Good Morning Sir & Friends......

Kailash said...

My Expiry guess is 6130, the breakdown level and last Pivot Low, this should co-incide with 5 DLEMA

Varun Manocha said...
This comment has been removed by the author.
amber said...

Sir ILango ji charan vandan and everyone good morning

gaurav said...

Gm Sir & All
sateesh mam tatamotors any update

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