Monday, February 3, 2014

Nifty Intraday Update-I


25 comments:

Nifty Simba said...

Sir , in your Premarket view two figures have been mentioned 6047 and 6074 .Kindly elucidate what values are these as in what is their importance and how were they derived

marina s rao said...
This comment has been removed by the author.
SAM said...

Nifty Samba...for me it looks like Minor Support at near that 6044 and Res near that 6075...

But more Sir Can explain.

SAM said...

Sorry for my TYPO...

Read as ..NIFTY SIMBA...

Ilango said...

@ Nifty Simba,

6073-78 was 80%-61.8% of last rise on Friday from 6067-6097.

6047 was taken as 73.6%(Between 61.8%-80%) of entire rise from 6027-6098.

shriram said...

OI data hints @ good base formation @ 59/ 6000 for Bulls thus far...

* Disclaimer: The series is young though & OI data can change in a flash, if PE writers sense a change in LT TREND

raj.abj said...

Dear ALL
Namasthe .......

Nifty Simba said...

Sir,Thanks , requesting your indulgence just one more time ---it means we take retracement values of the day range and the last hour range ---? Hope I have read it correct

Manish said...

Goodmorning master and all friends.

D.S.SASAN said...

Good Morning Sir, Dear Bros.& Sis's.
Have a GOOD Day.

Ilango said...

@ Nifty Simba,

They are based on EW only. As we get quite closer to lower T/F, it should be done in line with the technicals of one or two T/F higher till they reach OB/OS zone where a ST reversal is possible.

Ilango said...

For eg: These retracements are based on price moves in 5 min T/F and hence, take the trades in line with 30 min or 30 min & 60min T/F.

If your retrace is based on Hour T/F, then trades should be initiated in the direction of day or Day & week T/F till the hour reaches the extreme point. Even this extremeness should be considered in combination with the higher T/F. That is how we sense that Hour OB/OS conditions will continue as there is a trend in higher T/F.

Nifty Simba said...

As soon as EW comes ... somehow it surpasses my I.Q. long journey ahead I guess...Thank you Sir

GV said...

hi friends... good morning

Nifty Simba said...

In light of your explanation Can we say that if previous Hour High 6078 (presently resisted at ) Not taken out then as soon as 6058 taken out on sell side (retracement 80%) it will be a valid sell which gains strength below 6052 (low of previous hour)

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-6112, S1-6090, S2-6067, VWAP-6092

Dull day of trade till now, with Equal addition on both side, Nifty is down by a few points but relentless addition is going on at 6000PE level, seems like it is mostly secured…

Thanks & Regards

Kiran said...

I guess, Singapore and Hong Kong are closed for Chinese New year.

vksoni said...

sir,
fast fall set up in 7 and 21 hour ma?

Nifty Simba said...

Low of 6057.1 ...presently above it....Taking support at 80% or must it be considered breached??

rajiv malik said...

businessline on nifty

Nifty (6,089.5)
The short-term trend in the Nifty too is down. The floor of the gap formed last Monday, at 6188, will be an important resistance for the Nifty in the week ahead. The 50-day moving average at 6,220, can also thwart rallies in the short term.

The week ahead: There can be a short-term bounce to 6,154 or 6,200 in the coming sessions. Inability to get past 6,200 will be the cue for short-term traders to initiate fresh short positions. Downward targets are 6,008 and 5,954. Short-term trend will turn positive only on a strong close above 6,234.

Medium-term trend: The medium-term trend in the Nifty is sideways since the November-peak of 6,342.9. Last week’s decline can make the index head towards the lower end of this medium-term trading range that is held aloft by a cluster of important supports at 5,973 (November 2013-trough), 5,971 (200-DMA) and 5,920 (38.2 per cent retracement of the previous medium-term up-move).

Investors, therefore, need not fret as long as the Nifty holds above 5,920. Continued movement in the band between 5,900 and 6,400 for few more months will be construed as positive from a long-term perspective. That said, decline below 5,900 can drag the index to 5,770 or even 5,618.

STOCK4SURE said...

a small +WW may develop in 2 min charts.........may form pt5 near 6056.2.trgts 6065 near 12.15pm

Nifty Simba said...

BINGO..... Sir, your name should be Merlin Ilango....Magic!!! never knew trading as simple

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