Thursday, May 15, 2014

Nifty Intraday Update-I


Ilango said...

@ cooldent, vksoni,

Last rise remain as from "6962";

This zigzag correction had its "a" from 7172 to 7078=94 points;
Its "b" retraced 80%, the mmaximum @ 7153;

Its "c" wave is falling from 6159 and it could be either "6094"(0.618 of "a') or 6059(a=c).

marina s rao said...

Day Low : 7109.30 Day High : 7152.55 Day Pivot : 7111 Hour Pivot : 7126

NS above HKN ( Hepta Kilo Number ). Currently @ 7116.

More weakness below Hr. EMA @ 7111, also Day Pivot.

NS continuing in SOR mode.

NS will b back in BAH mode once above HHema @ 7129.

For learners sake :

BAH = Buy And Hold SOR = Sell On Rises

HKN = Hepta Kilo Number = 7000

marina s rao said...


Last line to be

Its "c" wave is falling from 7159 and it could be either "7094"(0.618 of "a') or 7059(a=c) or

What U posted is correct ?

deepak pinto said...

Some long upper spike candles forming.
Day tf
Now approching criticality
80 -10

Piyush Sharda said...

how did you rule out the flat scenario where it can retrace 90%+ of 7172-7078 and then fall??

Ilango said...

@ marina s rao,

Its "c" wave is falling from 6153 and it could be either "6095"(0.618 of "a') or 6059(a=c).

STOCK4SURE said...

i guess nos shd be 7095 or 7059

anand said...

MS Rao..

Fingers still not used to "7".... and so our eyes.. :-)

Ilango said...

@ Piyush Sharda,

Ilango said...
Largest fall since the reversal started from 6638.60.

(i)st wave may have been done at 6172; (ii)nd wave is on...

If extremely bullish, an irregular flat( or a flat) is the possibility.
May 13, 2014 at 12:44 PM

Ilango said...
5 sub-waves in the current fall from 6172 to 7101 suggests of a zigzag (ii)nd wave.
May 13, 2014 at 12:52 PM

Ilango said...
Exceeded the hour correction; into day correction..

6133 6142 ... is 50%-61.8% retrace of the last fall from …… 6172 to 6094

80% is - 6156

If weakness is to return, it should be around 6133 6142

Strength gets confirmed above 6142 OR 6156

Ilango said...
7125 7136 ... is 50%-61.8% retrace of the last fall from …… 7172 to 7078.15

80% is - 7153

If weakness is to return, it should be around 7125 7136

Strength gets confirmed above 7136 OR 7153

shriram said...

@ Bharat: TISCO pattern T1: was 468, did 463.75 today morn...

If entered @ b.o @ 432 ysday, guess can part book here & hold rest with 34EMA,30min (437.5) as TSL for T2 (525)

Bharat Kumar said...
This comment has been removed by the author.
deepak pinto said...

108 9
Is gainining in importance
2 meeting lines of last 2 days played out and ended there today has just overshot and bounced back till now

Manish said...

@ Prabhanshu and Shriram : Just look at the monthly chart of tisco and you will get three white soldiers....

shriram said...

@ Manish... then thats a probable indication that the i-HnS is valid.. however, it also suggest that after May'14.. TISCO may go sideways for a bit ?

So makes sense to make plans to part-book & trail / sell out near T2, i guess ?

Piyush Sharda said...

thank u sir, actually abc over at 7078 was also discussed so i was thinking of flat possiblity

Ilango said...

@ Piyush Sharda,

Truncated "c" was discussed to have ended at 7081. Only a price move past 80%, 7153 would have confirmed it.

We also discussed the "time factor" with a bounce and then another fall.
Ilango said...
Corrected numbers:
@ Hemanth,

There is a 3rd wave unfolding; within which the sub-wave 1 may have been done with a 533 points rise and the 2nd wave correction is on, the shape, time & form is not known yet.

We have kept 6931 as the first warning sign.

For the fall from 7172 to 7078, an abc(3) wave is unfolding upwards(7125-36 res and invalidation above 7155) after which another fall would unfold to complete "one part of the correction to be followed by another corrective upmove and then another corrective down and then a sharp rise.

There could be a few changes if market decides to change course...
May 14, 2014 at 9:44 AM

Raghavendra said...

Ilango sir,

Would you recommend to raise the filters (adjusted to 0.4% to 0.8%) for high-low ema's on different timeframes for entry - re-entry - part booking trades .

1. Hour TF : 10 to 15 points
2. Day TF : 25 to 30 points.
3. Week TF : 50 to 60 points.
4. Month TF : 100 to 120 points.

Piyush Sharda said...

yes sir, yesterday there was a leaning towards correction (61.8% /80% of 7172-7078) from day before yesterday possiblity of a 3 wave ended at kept my intra sell in 2 parts one at 80% other 100%. shud have done both at 80%

shriram said...

smelling a 40-50pt fall now... below 7100NS

bb said...

Shriam and Prabhanshu - Please alert us again when you think we can enter TISCO. Appreciate your help and the good work. Any failure will not be attributed to you.

marina s rao said...

NS latest Day Low @ 7097.05.

STOCK4SURE said...

7087 is support on T/L of last 2 days lows

7067 and 7081


a contracting triangle developing in nifty and BN charts and thats a continuation pattern

sir plz post ur views based on EW analysis

durga said...

@SHRIRAM--any symmetrical triangle forming in HR CHARTS?thank yu
its usual fr nifty to go down n get rid of longs -before it actually goes up..MORE OR LESS LIKE A CHEETAH kneeling n crawling before it lunges n plunges ..

STOCK4SURE said...

7072 and 14130 is 34ema in ns and BN 30min charts

they may lend some support

Ilango said...

Pre-Mkt's Resistances to supports almost done..

shriram said...

Hi Durga: how bout simple ZZ in play, suspect "c" down seeking 96 pts from 7152 ??

cooldent said...


How can we confirm end of C?

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