Friday, May 16, 2014

Nifty Intraday Update-II


82 comments:

marina s rao said...

NS started the hour in SOR mode.

NS below HrHema @ 7382.

Currently NS @ 7402.

shriram said...

For EW folk.. one label set

a/i 5119 6415 1296
b/ii 6415 5933 -482 -37.2%
c/iii 5933 8030 2097 161.8% ** in play, but will take time to reach ?

Raghavendra said...

Thanks Ilango sir and to many JN friends ( Satheesh madam, STBSTB, Gauresh, Stocks4sure, Shriram, Pattern trading, ITFPD, Gauresh ) who contributed immensely to my trading journey for past 2 years.

Sonu said...

All heavyweights trading with heavy volumes today
http://www.niftytrader.in/nse-stocks-volume/

arvindkering said...

In Gratitude
Thanks a lot sir

anmpatel said...

@master
fall from high is of 3 wave? or 5 wave?
thanks.

satheesh said...

@ ravi,

Sail has broken out of a Cup with Handle pattern and also crossed the Long term resistance above 77-79. The targets of the pattern are 25-30-40 points from the Breakout

satheesh said...

@ Ragavendra

:) :)

marina s rao said...

Hr. Pivot @ 7382.

NS @ 7404 currently back in BAH mode.

Day low : 7264 Day High : 7564 Day Range : 300 Points.

gs said...

thanks to master for guiding us through this...what a journey it has been

a good piece of news about truth and honesty ...good read

https://in.news.yahoo.com/roommates-buy-lumpy-used-couch-40k-cash-215508535.html

Pattern Trading said...

@ Ragavendra

Gratitude for kind words

Muthu Thamizhini said...



Now it is fully out that NDA get 350 around and market also has risen to its fair share. Vix has collapsed.

now is the high hit in morning is the ceiling for this expriy? any idea guys

anand said...

@anmpatel,
Doctor Saab !
JNSAR has reached 6971 .... Any updates on your HA studies?

shriram said...

Here is the suspect i-HnS with RSI slingshot + Golden Ratio setup...

http://prntscr.com/3jnl5s

Hemanth said...

Shriram For the WW Pattern you mentioned in Nifty what could be the SL..Or invalidation Point for the pattern
Thanks for your time...

anmpatel said...

@anand...
todays HA open was 7080 and tom dev ha open is 7222...bullish..

Chetna Jethi said...

@shriram ji---INHS mein declining right shoulder.....not a good idea to take trade for bulls


this is what i read and experienced

Chetna Jethi said...

RCOM--keep holding,,Its is shwoing accumulation with good volumes---lets see by EOD

Ilango said...

@ @anmpatel,,

The fall from 7564 to 7352 looks like a 5. Now a "b" wave may be on... Look at 80%(7522) to negate this view.

7458 7483 ... is 50%-61.8% retrace of the last fall from …… 7564 to 7352

80% is - 7522

If weakness is to return, it should be around 7458 7483

Strength gets confirmed above 7483 OR 7522

shriram said...

@ Hemanth : 2 , 15min candle closes < 1-3-5 @ 7345 NS, will invalidate

@ Chetna: Declining NL in i-HnS makes it less probable as a pattern ??

Sonu said...

@Shriram Sir,

Is it also a WW?

===================
shriram said...
Here is the suspect i-HnS with RSI slingshot + Golden Ratio setup...

http://prntscr.com/3jnl5s
May 16, 2014 at 12:28 PM

Ilango said...

@anmpatel,

Alternatively:

7564 to 7364 as a 3 wave fall followed by an irregular "b" wave and another 3 wave down(This will limit downsides)

Chetna Jethi said...

@shriram ji--the line you have drawn for INHS is a wonderful level to go short, if it somehow reaches there...thats what i do in such cases..lose some, win some

Crorepathi said...

I am going to contribute Ilango Sir the number of points BN is going to make today EOD
How much are you going to?

Chetna Jethi said...

@shriram ji yes that makes it less probable as a pattern success for sure....and a rising neckline gives it more chances of success.....


you extend that line on the upper side and you will get a level that will resist any bear rally

sometimesbullsometimesbear said...

@Dear Raghavendra.....Ilangoji would rightly say....

It is U and U alone and the Credit goes completely to U alone.....:):)

Hum tho kuch bhi nahi hai...Humaari kya aaukat hai....:):)

Ilango said...

The Credit belongs to you...and you alone.
To the Silent Gambler...who is daring greatly...
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.
The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again,
because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause;
who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly,
so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
-Theodore Roosevelt.
=====================================
Remember to "Dare greatly" always in any aspect of your life....

shriram said...

@ Satheesh : thats a gr8 pick sail.. tgt 115 ?? :-)

@ Sonu : yes. A +WW is there too in GS Goldbees

@ Chetna :
when identifying Hi-prob patterns, aim is to estimateWave Quality of legs of the patterns, the fall from 2810-2695 today is ringing as a 3-wave..

so , if EOD close sustains > Golden Ratio @ 2701, the fall will auto-become a corrective & make the larger PATTERN, the i-HnS Hi-PROB :-)

Chetna Jethi said...

@shriram,,thats where the experience of eyes become vision to guide us all and thats where we differ.. May be i can identify it the way you are doing..but till now..NO..golden ratios can be good for bounces for sure

shriram said...

@ Chetna:

There is only mathematics for me :-)

Then the only way is to wait to see if 2700 supports 1st & later, check wot happens @ 2790 the i-HnS NL (if 2700 holds i.e)

Time for sappad , Bon Appetit !

prakashbkc said...

Master,

As u told once there is max 3.36% correction max in nifty then from 7563 - 3.36% correction result in 7309 then one should buy at this level?

Chetna Jethi said...

nifty needs to cross 7350-65 levels quickly for any upside other wise a zig zag in offering

Ilango said...

@ prakashbkc ,

3.36% is the largest correction during the rise from 5933 till now; hence, that should be a rough support area.

dv pandit said...

@Ilango sir,
Can we enter long here.

Regard

STOCK4SURE said...

small(???)bullish WW developing in ns and BN 2 min charts

may form pt5 below 7340 and 15150 near 12.45pm

trgts 7400-7500

trgt 15600-15700

near 2.00pm
May 16, 2014 at 12:02 PM

ns in 7515-40 range cmp 7524

but BN yet to go below 15150
cmp 15180

satheesh said...

Sir,

one clarification - how do you view the intraday count of Sail ?

STOCK4SURE said...

15102 is 55ema in BN 5 min charts

pt5 may form in 15140-15102 range in BN

A J said...

Any option strategy in nifty for the weekend? Apart from JNSAR trade?

Kiran said...

One Day when we witnessed 5119 and 150+ points bounce (roughly 3% from low).
@ 7500, if we witness more than 225 (3% of 7500) of correction (read down), Shall we expect bigger correction ?

Ilango said...

@ satheesh,

"abc" if 81 is held..

Chetna Jethi said...

7290-80 makes it C= 0.62%A

Chetna Jethi said...

7220-7210 makes it A=C

STOCK4SURE said...

300pts corrected from top

Rajaram'z said...

Sir now its more than 3.36% (7309) and it approaching 61.8% retrace of the rise from 7087 !!!. Do we follow the retrace mechanism or wait further

Prabhanshu Raman said...

Day's low is still saved

satheesh said...

sir, A @86.5 - today's high
B @ a-81.5 - b- 85.85 c- near 81 - developing now
and a C to evolve -

Have I got it right sir?

murli said...

ILLANGO SIR
BANK NIFTY NEXT SUPPORT

Chetna Jethi said...

@prabhanshu--low has been broken

manas trivedi said...

gap filling on the same day signifies that, up trend is getting weak, have to be cautious now

Best Nifty said...

A J

As per your yesterday’s discussion with Sriram, what to do if monthly target (say 50/100 points) is achieved early…do u stop trading till month end …Thanks

chetas said...

manas, what gap you are talking about, gap is not filled,

leon said...

What is happening to Tata Steel?

A J said...

@Best Nifty
No you continue to trade. See the idea is is to start slow. First beat FD return and then increase your expectation. People enter the market to make big money in quick time. That creates the problem. You should always increase your efficiency but at the same time not expose yourself to excessive risk.

Ilango said...

@ satheesh,

Looking at the day chart of SAIL, it seems to have completed a "5".(unless waves sub-divide)

Ilango said...

7564-7352=212(a)
7352-7414= 62(b)
7414-212 = 7202(80% of last rise. (If holds, next upmove can unfold)

(i)st wave's top at 7172 would make it a 5 waves from 6639 instead of the sub-waves shown.

anand said...

is it still correciton or ternd reversal???

Guru Krishnan said...

Master - Thank you is the only word i can think of now... really been blessed to reach you!! :) :)

shriram said...

--> back

Reversal..... ?? no unwinding in OTM CEs in face of rise

Hitendra said...

Big drop in nifty, now only 80 points up

Guru Krishnan said...

@AJ --- Options still looks heaven for Writers ... further Drop in VIX can be expected :)

Hitendra said...

Not holding 7202

Rajaram'z said...

WOW, what a fall.....

Chetna Jethi said...

what a welcome by sensex----- BUY the rumors, sell the news...FIVER and a bigger correction on weekend

Prabhanshu Raman said...

you mist be joking....100 point movement in 2 mins...............................that to both waysss

shriram said...

@ Prabha: i traded only Delivery today.. its so peaceful to see this volatility wen u hv no open FnO position :-)

sometimesbullsometimesbear said...

@Best Nifty.....AJ is 10000% correct.

The problem is retailers are used to "Double ur money themes etc..."

Even if u can beat the Grand old Lady...The Bank FD by a few percentage points initially...that is an achievement in itself......Once u reach this stage....u can attempt to complete with the overrated "Fund Managers"....It is a slow and long haullll....but ACHIEVABLE......

"Slowly Steadily and Silently"......

@Euphoria is done......Relief will take over now......:):)

Ilango said...

Bullish:
7213 7102 ... is 38%-50% retrace of the last rise from …… 6639 to 7564

80% is - 6824

If strength to return again, it should be around 7213 7102

Weakness gets confirmed Below 7102 OR 6824

Hemanth said...

whats happening on Nifty-Any valuable views pls..so volatile

Prabhanshu Raman said...

Shri - Even I have delivery and still holding.... :-)
but end up taking 2 positions in FNO....lets c

shriram said...

@ SB / AJ :

This will warm the cockles of ur hearts , (for all Nifty pt. collectors / munim ji style) :-)

http://prntscr.com/3jny9u

Rajesh Rekhani said...

7172 is broken. What next?

mani said...

Thank you ilango sir, your advice really help full, actually i am scraed about this kind of movement

prakashbkc said...

Is tony sir BEAR Rally relevant now??????????????????????

leon said...

Supreme court orders closure of certain steel plants in Orissa

leon said...

7 mines of tisco and 3 mines of sail

Chetna Jethi said...

@leon--i was literally shocked by the fall in tisco...

thanks for the info

leon said...

Unfortunately I made a big mistake today. I did not punch in my Stops and am about 50K down today

Ilango said...

New Post Done.

shriram said...

Remain a SAINT in the TRADE ROOM & lets do some number-crunchin :-

1. Days' candle is formin a Reverse Shake-out / Inv. Hammer or may be a Gravestone Doji .. will know near EOD

2. CMP is < Dev.DHiEMA ,

3. Bulls are tryin to conquer 7100 strike, Bears r firmly in control of 7200 @ the moment OI wise

4. Nature of Fall , still appears a ZZ to simple yes..

Summary :
EOD close < 7231 (DhIEMA) wud suggest MODE CHANGE to larger ABC down as a possible retrace to 5933-7564

EOD close > 7231 & Bulls may still pull along, a bit more, next week ?

Chetna Jethi said...

tisco has broken 432-35 yet again once below 421 it shall be sell on rise now for retracements for rally of 332-485

390 is the golden ratio

sometimesbullsometimesbear said...

@Shri...:):)

Anything is Possible....Nothing is Impossible....:):)

C u in 2020....:):)

Sujatha said...

hihihiiiiiiiiii..endharo mahanubhavulu andhiriki vandhanavu

. looks like all the faces are like 1000W bulbs ...picture abhi bakki hai - for upside if NF ........... holds....

NF below 7268 - 7047 possible, protection will give onceagain a fastttttttt upmove. EOD closing below NF 7343 is "short term -ve ness" else cat on the wall.

INTRA TARGET - below 7268 - 7169-7121-7061

bye take care

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