Wednesday, February 5, 2014

Nifty Intraday Update-III


48 comments:

shriram said...

reposting..

shriram said...
--> back

Master,

as an alt. can u see 5 waves done now from lows of 5962-6021 ?

Trader Junkie said...

6000PE @ 75 lac OI - highest - 6000 might well prove to be the base for this series !
Scaling 6035 (61% retrace) may attempt 80% and then larger retrace of the fall from 6170 - to i.e 6080 (next golden ratio) . Long with SL at 6000 -5995 can be attempted

Ilango said...

@ shriram,

Yes. There is a 5-sub-waves from day's low to day's high-5962-6021.

First fall from 6170 reached 6027.

Keeping below "6027" would be quite weak..

sometimesbullsometimesbear said...

Nifty....kahin pe nigaahen....kahin pe nishaana since beginning of Feb settlement...:):)'

Prebudget excitement missing.....or will there be a full fledged budget at all.....:(:(

shriram said...

Master,

Thanks,.. ok, now that bring forth a slightly odd. Q !

If 5962-6021 is a Hiprob 5wave..

how to fit it in the overall rise from 5934-6018-5962-6021 sir ??

Chetna Jethi said...

looks like a fiver from lows

Ilango said...

@ shriram ,

It is quite simple:

Whenever market wants to confuse, the sub-waves during corrective rise(initially taken as corrective) would be of 5 waves. The larger 3 considered would become sub-dividing waves in case of a reversal.

As long as technicals favour a "corrective", we'll stay with it accordingly. Important thing is to understand the "changing directions".

Ilango said...

vth could sub-divide, considering Hour TA..

Ilango said...

"6010" would confirm if 5 done.

shriram said...

mmm.. ok Master,

then do we relabel 5934-6018 as a 5wave instead of 3, if NS goes > 6027 ??

herry said...

dear sir nifty weeknes below 6010..?

Aly said...

Dear Sir,

for learning purpose, is 6010 imp because 0.618 of last rise from 6002?

Ilango said...

@ shriram,

A bullish view would be to label as:

5933-5971-1
5971-5940-2
5940-6018-3.1
6018-5962-3.2
5962-xxxx - 3.3

Bearish:

5933-5971-5940-6018=a
6018-5962=b
5962-6021=c (whether these are sub-waves of "A" is not known-but ST TA suggests so.)

STOCK4SURE said...

possibility of a small bearish WW may be developing in nifty charts ...nifty may have formed pt4 near 6010 and may form pt5 near 6025-27 range for trgts near 5995 tomorrow

shriram said...

Yup, Thanks Master.. :-)

Lower strike options OI behaviour tho is bullish, and hence the detailed Questioning.. thank u :-)

STOCK4SURE said...

if the smaller WW works out then may open probability of a larger bearish WW

pt 3 may form near 6025 then may dip for 5995-90 range to form pt4 and again may move up for 6040 to form pt5 and trgt price near 5970 in 2 trading days

Ilango said...

@ shriram,

When in doubt, I visit 9 period rsi. It has helped me almost 90% of times.

Chetna Jethi said...

@ Sir,, can you please throw more light on....

Ilango said...
@ shriram,

When in doubt, I visit 9 period rsi. It has helped me almost 90% of times.
February 5, 2014 at 2:43 PM

shriram said...

@ S4S:

to add to the -WW fire-power , Dev.WkLO @ 6069 is a Big RES & so is the GAP : 6067- 6120 NS ,

but 1 caveat i remember u had told me earlier, when -WWs are spotted @ lows...... :-)

RS said...

@ Ilango Sir,

Just a quick clarification.....9 period RSI in hourly charts or in daily charts ??

Thanks
RS

RS said...

@ Ilango Sir,

Asked becoz 9 period RSI in hourly charts is showing negative divergence.

RS

marina s rao said...

NS Day high @ 6025.20

Ilango said...

@ RS,

I don't see any -ve div in Hour.

Ilango said...

@ RS,

9 period refers to 'any" time frame.

Nifty Simba said...

hmmmmmmmmmmmm!! shorters left high n dry.........

RS said...
This comment has been removed by the author.
RS said...

Oops...Thanks for correcting me Sir.

Regards
RS

shriram said...

Master,

Many tks for answering so clearly in live trade :-)

herry said...

dear sir nifty below 6007 can start od Vth wave...?

Ilango said...

Value addition of the day:
==================

Nifty Simba said...
hmmmmmmmmmmmm!! shorters left high n dry.........
February 5, 2014 at 2:59 PM

RS said...

Hahahahahahaha....Nifty SImba...you are too much

Cheers
RS

ITradeForProfit Daily said...

Bulls need to hold 6021 by EOD DLEma +20

RS said...

@ Ilango SIr,

Since the last few days, frames of hourly chart and lead indicators are misaligned...Could you please chk ....

Thanks
RS

mayank said...

6028 - 34 hrsma , need to be watched carefully for early signs of reversal .

Prithvi Raulji said...

@Master,

Looks like close above DLEMA,
Should we go long as Daily "Pause" mode

herry said...

Until a close above 34 Hr Sma, view the rises with suspicion.
mens...? plz gide me sir

shriram said...

simple lables to EW eyes:

a 5934 6018 84
b 6018 5962 -56 -66.7%
c 5962 6046 84 100.0% ** in play

herry said...

dear sir can long nifty ..?plz gide this leval

sudharsan said...

Friends Best would be to wait for JNSAR to show us clear direction

Prithvi Raulji said...

@Sudharsan,

JNSAR is best for clear vision

And if trigger than bigger trend start

Ganesh IC said...

Master

Does vth wave from 6002 look like ED (with a,b,c,d being completed and e in progress) ?

Prabhat said...

Looks like bulls are now being given high protein feed. Closure above 6020 is a good sign to start with. The next tgt for bulls would be 6090 where we can then take positional longs as per jnsar.

sudharsan said...

Yes Prithvi you are correct

sometimesbullsometimesbear said...

Conservative trade

#9th day Short from 6292......

Tomorrow's JNSAR 6090.....Long above this number tomorrow.

:):)
Have a nice day...:):)
Time for afternoon siesta.....and sweet dreams....

sudharsan said...

Master and Friends....Byeeeee

Prithvi Raulji said...

@All,

We learn technicals from our master (Vani Sir),,and we learn that If trend Down and
if close above DLEMA 'Trend Pause' and Close above DHEMA trend Reverse

Piyush Sharda said...

@prithvi raulji

mr vani wud be ilango sir's dad.

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