Thursday, May 22, 2014

Nifty Pre-Market View.

FII's continue to be buyers & VIX lower... (Sold a small amount on 20th & 21st)
Prices continue to close above all key averages.
Red "b" and green "iii" direction "up".
Holding above 7231-38, uptrend continues towards the two lows(7352-64) made after the recent top and then, if strength remains & key retracements held, towards the two highs made after the top(7414-15).
The strategy that has worked well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL".
Yesterday, the last fall retrace gave an opening trade;
Subsequently, being below Day pivot, opening fall gave another trade for opening fall retrace.
Towards the end, the last rise has held its "key retrace at 7231-38".
Hence, Holding above "7231-38" is stated above.
Next rise may have started from 7239.15...hence, last rise from may be taken as "7239".
(7324 is 30 points + DHEma of the day)


Prabhanshu Raman said...

GM Sir and Friends.
Sir, if time permits, can you suggest counts in Bhel and RCOM on day charts and if possible the re-entry levels?

Suraj said...

Good Morning Ilango Sir and Friends

San said...

Good Morning Ilango Sir and Friends

TCS Chart analysis: CLICK Here

herry said...

dear sir can given me idea stock viwe..

venkatapathy l said...

Namaste Ilango Sir and blog friends


kizar khan said...

Hi Satheesh sir and master,

I am happy to you here , i am sicnere follower of tradeessentials .
Satheesh sir how to followup ur regular update. as of tatamotors chart im into long .
shall i exit long now ?

Ilango said...

@ Prabhanshu Raman ,

RCOM: The upmove from 113.60 is likely to complete its 3rd wave today. OR it is already in its 4th wave.

Ilango said...

BHEL: From the lows of 100.15, it has done series of 1,2, (1),(2),(i),(ii) and is unfolding in its (iii)rd wave. It continues, thus, to be in "buy on dips"

Ilango said...


It is at a critical stage. If it holds 135(approx), it could start on a major upmove.

If not, its correction could continue towards 120.

Ilango said...

Resisted at Pre-Market's 7298.

That falls in the 7294-7324(DHEma+30) zone.

Last rise from 7239 to 7298 comes at 7262(61.8% and 7251-80%).

If fails, take the retrace of 7207 to 7298: 7242-53 with 80% @ 7225.

amber said...

Guru ji charan vandan and everyone good morning

shriram said...

GM Master & JN Family,

The min. +WW tgt got done... need to trade 7280 NS for more...

Have a gr8 day !

satheesh said...

@ Kizar khan,

Holding 434-436 the upmove continues initially towards 5 DMA at 443 levels. Breakout of 443 is required to move towards 460++
Break of 434 - would drag it lower towards 50 DMA 420-416.

Ganesh IC said...

Good Morning Sir & JN Family

DNSHUKLA said...

Good Mng Sir and Friends.

shriram said...

Time to align with the writers... 7400CEs adding OI early morning

Raman Kapoor said...

@ Prabhanshu,

When time permits can you post your views on TechM. I think it has broken the triangle.


Ilango said...

It seems to be "5" from 7207-7298. Hence, 50%-61.8% at 7242-53 is a critical zone for this ST upmove to continue higher. Failure would drag it down below 7200..

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