Wednesday, May 7, 2014

Nifty Intraday Update-II


36 comments:

Raman Kapoor said...

Re-post

@Prabhanshu,

I have also tried but couldn't get a clear picture. Does the following count make any sense to you

C.(i) as 139 to 122.05
C.(ii) 122.05 to 126.90 (in 3 sub-waves)
C.(iii) 126.90 to 108.2 (done today)
C.(iv) 108.2 t0 xxx in progress

C.(iv) may break the downtrending channel briefly and then the C.(v) may start for 100-103 levels.

herry said...

dear ilango sir.
holding 6680 start of B of c...?
and below 6673 start of C...?doun

herry said...

dear sir 2nd update green count detele so trande id doun..?

STOCK4SURE said...

pt4 of bearish WW in BN may have formed near 12935

pt5 may form near 13060 near 2.30-3.30pm intraday

trgts near 12900 tomorrow

STOCK4SURE said...

near 12936 is also confluence of emas in 30min charts

herry said...

dear sir 2nd update green count detele so trande is doun..?

Sonu said...

@Ilango Sir,

What is the ST possibility now as 6680 is broken?
"Short term, hence, poised for a rise to 6748-55 zone or more, provided "6680" is held."

anand said...

Sir and Blogmates :
Sharing some observations - to understand the TA (Indicators and Oscillators - so that I can pass the future test by Shriram :-)

Now you have moved Red (2) to 6550 and removed the green (b) of 6800.
Can it be read with other tools due to :
- Lows of 6780 breaking
- Lead indicator didn't take support on its trend line and is below trigger (reversing from Mid point)
- 9 day RSI reaching 20 but still NOT OS ?
- Trend indicator remaining down (even if +ve) and
- The triangle breakout on down side (showing soem effect now ?)

Below 21 EMA of 6707 , NS can target first 34 EMA at 6654 before 55 EMA (6564 as next major support )?

Sonu said...

@Ilango Sir,

Nifty PCR continues to decline and NS breaks below 6680. Does it mean ST bearishness?

Ilango said...

@ anand,

Under laboratory conditions, all these things are possible.

In actual market place, there could be whipsaws; other possibilities..

Hence, we manage intra positions by part booking or fully booking to one's desire.

If part booked, the balace may be trailed with "last fall retrace".

Last fall may have started from 6720.70, aggressively and 6743 conservatively.

Prabhanshu Raman said...

Raman, I m not clear with count as of now. . So can't comment. But if you see prices, it's declining in channel. .. and channel support comes near 104 which is aprx 61% retrace for the rise from 88 to 128.65 (I m considering 139 as irregular b wave

Ilango said...

@ Sonu,

ST bearishness started when prices closed below DHEma and a sell on rise has been in force since 25th April.

Subsequently, JNSAR triggered at 6778 on 28th April.

Then, prices have closed below WHEma and WEma last week and are headed towards WLEma & lower.

Since month trend is "UP", we treat this as a weekly correction as long as prices don't close below WLEma on the last day of any week.

Prabhanshu Raman said...

There was a triangle which broke below 6709 and 6662 is the first target and then 6586, sl was at 6732.50.

Now, there might be a support near 6650 (line joining 6665-6657). If saved then probable +ww tgting 6750 else triangle's second tgt or bear flag will trigger below 6657 or hns will trigger below 6650.

anand said...

Thanks Sir,
Sharing observations and receiving insights is the goal now.
Intra is still "many a thousand trading hours" away from me! Yet to learn and sit on positions and manage pains of whipsaws! Glad that I am able to "start" reading the charts and some numbers....

Thanks for your guidance!!

Pattern Trading said...

Probable heads and shoulder discussed today : Click here


Sonu said...

Thanks Sir for the clarification.
One more question: Does break of 6680, as per pre-market, has any implications for intraday trades?

Sathya said...

Simple trend of today based on Pivot Opened Below Pivot 6720 (High Made 6719) Breached s1 - 6697 and not able to hold drifted to S2 6679

Prabhanshu Raman said...

And now probable small bear flag in 5 mins. 10 and 30 points may down from days low keeping sl at 6679 post trigger

Ilango said...

@ Sonu,

Break of 6680, the 2-day low, indicates weakness.

If holds 6672, it could bounce for the last fall from 6721 to 6672 and resume moving lower. (Alt. retrace if it exceeds 6703 would be the fall from 6743)

shriram said...

@ Pattern : Will u wait for Hr Candle close < NL @ 6645 to declare the HNS Active ?

Reason is same NL is also the 1-3-5 trigger for a Reversal +WW pattern !!

Sonu said...

Thanks Sir. Now that you explained, it seems very straight forward. Without your guidance, I was lost in numbers.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 1:00PM, Pivot-6749, S1-6724, R1-6772, VWAP-6727

The 7000CE writers for the first time in this series looks like trying to be aggressive, Support still intact at 6700 with Best around 6500, NF near the lower part of the Trading range…

Thanks & Regards

cooldent said...

Sir, Some light on BN please.

Pattern Trading said...

@shriram bhai ..My strategy will be to short 50% at break of neckline .. In typical HNS price often re visit neckline (Magge & Edward theory) add 50% more that time with sl of 6680-85

Ilango said...

@ cooldent

BN too in corrective phase.

If it holds below 13000 approx, the correction could resume for the next phase of downfall.

If not, it continues higher towards 13055 or more and then resume correction.

Above 13165, uptrend resumes.

Sonu said...

Huge additions in 7000CE for the day:
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/
Yesterday it was 7100CE

anand said...

And on 2 minutes a small 3 wave done from 6672 ? -> is it abc or only a (for a flat to to still emerge till 6703) will see. If abc, seems fall is from 6721 and 6672 will not be held ! 38% only retraced - bearish ?

STOCK4SURE said...

a small channel developing in BN

with support of 12972 may move up towards 13020 again and after a small correction will trgt 13060

Yashpal Goswami said...

Bank Nifty ready to fall?

shriram said...

--> back

@ Sam: tks, and wot wud be the Invalidation pt, for the HnS pls .. Hr close > NL ?

anmpatel said...

@Suja sis..
i think ur(bullish) sl 6710nf hit...now any downside tgt?
thanks.

Pattern Trading said...

Close above 34 hr ema which will be around 6685-90 zone by the time neckline breaks.

herry said...

dear sir hourly H&S formetion...

shriram said...

alrite Sam ... tks

Ilango said...

New Post Done.

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