NS started the hour in SOR mode.NS below HrHema @ 7382.Currently NS @ 7402.
For EW folk.. one label seta/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 ?
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.
All heavyweights trading with heavy volumes todayhttp://www.niftytrader.in/nse-stocks-volume/
In GratitudeThanks a lot sir
@masterfall from high is of 3 wave? or 5 wave?thanks.
@ 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
@ Ragavendra :) :)
Hr. Pivot @ 7382.NS @ 7404 currently back in BAH mode.Day low : 7264 Day High : 7564 Day Range : 300 Points.
thanks to master for guiding us through this...what a journey it has beena good piece of news about truth and honesty ...good readhttps://in.news.yahoo.com/roommates-buy-lumpy-used-couch-40k-cash-215508535.html
@ Ragavendra Gratitude for kind words
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
@anmpatel,Doctor Saab !JNSAR has reached 6971 .... Any updates on your HA studies?
Here is the suspect i-HnS with RSI slingshot + Golden Ratio setup...http://prntscr.com/3jnl5s
Shriram For the WW Pattern you mentioned in Nifty what could be the SL..Or invalidation Point for the patternThanks for your time...
@anand...todays HA open was 7080 and tom dev ha open is 7222...bullish..
@shriram ji---INHS mein declining right shoulder.....not a good idea to take trade for bullsthis is what i read and experienced
RCOM--keep holding,,Its is shwoing accumulation with good volumes---lets see by EOD
@ @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
@ 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 ??
@Shriram Sir,Is it also a WW?===================shriram said...Here is the suspect i-HnS with RSI slingshot + Golden Ratio setup...http://prntscr.com/3jnl5sMay 16, 2014 at 12:28 PM
@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)
@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
I am going to contribute Ilango Sir the number of points BN is going to make today EODHow much are you going to?
@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
@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....:):)
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....
@ 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 :-)
@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
@ 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 !
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?
nifty needs to cross 7350-65 levels quickly for any upside other wise a zig zag in offering
@ prakashbkc ,3.36% is the largest correction during the rise from 5933 till now; hence, that should be a rough support area.
@Ilango sir,Can we enter long here.Regard
small(???)bullish WW developing in ns and BN 2 min chartsmay form pt5 below 7340 and 15150 near 12.45pmtrgts 7400-7500trgt 15600-15700near 2.00pmMay 16, 2014 at 12:02 PMns in 7515-40 range cmp 7524but BN yet to go below 15150cmp 15180
Sir, one clarification - how do you view the intraday count of Sail ?
15102 is 55ema in BN 5 min chartspt5 may form in 15140-15102 range in BN
Any option strategy in nifty for the weekend? Apart from JNSAR trade?
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 ?
@ satheesh,"abc" if 81 is held..
7290-80 makes it C= 0.62%A
7220-7210 makes it A=C
300pts corrected from top
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
Day's low is still saved
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?
ILLANGO SIRBANK NIFTY NEXT SUPPORT
@prabhanshu--low has been broken
gap filling on the same day signifies that, up trend is getting weak, have to be cautious now
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
manas, what gap you are talking about, gap is not filled,
What is happening to Tata Steel?
@Best NiftyNo 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.
@ satheesh,Looking at the day chart of SAIL, it seems to have completed a "5".(unless waves sub-divide)
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.
is it still correciton or ternd reversal???
Master - Thank you is the only word i can think of now... really been blessed to reach you!! :) :)
--> back Reversal..... ?? no unwinding in OTM CEs in face of rise
Big drop in nifty, now only 80 points up
@AJ --- Options still looks heaven for Writers ... further Drop in VIX can be expected :)
Not holding 7202
WOW, what a fall.....
what a welcome by sensex----- BUY the rumors, sell the news...FIVER and a bigger correction on weekend
you mist be joking....100 point movement in 2 mins...............................that to both waysss
@ Prabha: i traded only Delivery today.. its so peaceful to see this volatility wen u hv no open FnO position :-)
@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......:):)
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
whats happening on Nifty-Any valuable views pls..so volatile
Shri - Even I have delivery and still holding.... :-)but end up taking 2 positions in FNO....lets c
@ SB / AJ :This will warm the cockles of ur hearts , (for all Nifty pt. collectors / munim ji style) :-)http://prntscr.com/3jny9u
7172 is broken. What next?
Thank you ilango sir, your advice really help full, actually i am scraed about this kind of movement
Is tony sir BEAR Rally relevant now??????????????????????
Supreme court orders closure of certain steel plants in Orissa
7 mines of tisco and 3 mines of sail
@leon--i was literally shocked by the fall in tisco...thanks for the info
Unfortunately I made a big mistake today. I did not punch in my Stops and am about 50K down today
New Post Done.
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 EOD2. CMP is < Dev.DHiEMA , 3. Bulls are tryin to conquer 7100 strike, Bears r firmly in control of 7200 @ the moment OI wise4. 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 5933-7564EOD close > 7231 & Bulls may still pull along, a bit more, next week ?
tisco has broken 432-35 yet again once below 421 it shall be sell on rise now for retracements for rally of 332-485390 is the golden ratio
@Shri...:):)Anything is Possible....Nothing is Impossible....:):)C u in 2020....:):)
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 - 7169-7121-7061bye take care