Present retrace to focus on is firstly - 7270 to 7230 (Next 7344-7216)Bearish: 7250 7255 ... is 50%-61.8% retrace of the last fall from …… 7270 to 7230 80% is - 7262 If weakness is to return, it should be around 7250 7255 Strength gets confirmed above 7255 OR 7262
55ema in 5 min tf is acting as limit to upside since morning,,can be a good stoplos or reversal point once moves above ithttp://prntscr.com/3ny7mn
Seems BN cannot go above 14900 ...
@ Prabhat,Normal correction could end either at 6990-7100, 50%-61.8% of last rise from 6639 to 7564ORat 6750(remotely 6555) as 50% retrace of the entire rise from 5933 to 7564.Last consolidation zone of "6640-6800" is a low risk re-buy zone.Having broken out of multi year consolidation at 6358, holding 6990 is preferable. But if markets decide to move lower, we should accept it. Where the markets will go, we could easily "follow".Investors who buy into dips need not worry as long as prices stay above 6600.
master how about ABCDE 7563 -7131 -A , 7504-B , 7118-C, 7415-D? UPPER CHANNEL THEN E-7252 AS STOCHIASTIC HIGHLY OVERSOLED
sir is 2.b wave as abc completed at 7219 and now 2.c is running is my counts valid sir
Day Low : 7216.0 Day High : 7272.50 Range : 56 Points Day Pivot : 7262 Hr. Pivot : 7241NS well above HKN ( Hepta Kilo Number ). Currently hovering around @ 7235.NS below Day Pivot @ 7262.NS continuing in SAH mode in Day T/F & in Hr. T/F. Strength returns only above Hr. Pivot @ 7241 & Hr. Ema @ 7248.SOR = Sell On RisesBAH = Buy And Hold SAH = Sell And HoldHepta Kilo Number = 7000
@Ilango Sir,Today you didn't mention about the weekly or monthly trend assertion. Any specific reason?
@ Sonu,a done; b done; now the "c" wave up is your trend assertion.
55ema in 5 min tf 46.5 now,,resisted again
sir thanks for the reply even though you didnt directly tell me i understood thanks again
@Chetnaji Thanks for this up dates was watching your comments since morning for STPL of my trade looking for same!!!
@ intraday trader ,Yes. That is a possibility.
worth recalling 2 days back obsv, 75 CE June melted 50% in 2 sessions, waahe guru !
this time 2 min is trying to support..B is over..lets see...will react not proactively act...safe till 7250 or there abouts..
Less than 20 pts premium (even 10 pts now) at the opening day of series.When did we see such thing last time ? Shall we see DJI / S&P500 future style discounts to spot -- some day ? Or Pressure on selling indicating the consensus of "Large Correction”? Just thinking loud and sharing the idea...May be totally wrong with my limited knowledge. [Premium in the past have given no clear indication - but at the opening day such contraction is not usual]
@NI3..just posting observations, boss!!
@ raman perumal ,Observing the corrective waves and calling them correctly is a challenging one.You are doing it well.That takes care of 70% of your trades or more.
Today, prices have found 7230-35 as a cluster support zone.DLEma being 7241, keeping above it could bring a "pause".
Shriram,:-)So all this premium contraction is your creation.....house is winning!! hmmmmm !!
Anand : The house wins most %wise.. thats y , elders say NEVER GAMBLE , BUT FEEL FREE TO OPEN A CASINO ;-)
Today, prices have found 7230-35 as a cluster support zone.Breaking the same would lead to sub-7200 levels.
thank you sir i have been to many blogs many forums and lost some capital now only following only your blog what learning is from you only sir
@Chetna I had set parameters depending on ur screen shot send earlier !!!! 55ema thats wt thanksits new for me as beginner slow Lerner
During correction consolidation sideways rangebound trading days....Try doing the OLX dance "O Womaniya....AaaaA Womaniya....with SellPhone in hand exactly like how the lady does....Try it and see what it does to ur brain chemicals....:):)
Nifty struggling at channel top ....
@ SB : hahah... price does that via various dance styles.. WXY / ABC / ZZ ;-)
@NI3..look at that screenshot,,you will find other settings too...these are sometimes helpful for intra trades and sometimes hint at taking positions too...
@sbsbhahahah...Please share your experience of the dance...others may be motivated :-)and lo- 7230 is gone....! Sell in June and go to moon ? (I coined this and will ask for copyright)@Shriram,Elder is a great man....especially his idea of attending AA Meets...! (It works !)
see it came down yet again and level fir wohee...55 ema. a small low risk of 5 points would have given 15-20 points..good risk reward
More than 50 orders for 1 Lacs NF Buying and 7231...!! Any HVT experts will shed light on it later...(Intraday short covering?)
premium se discount.....hahahha
@Chetna Agreed!!!!i need to check screen shot again for further more research on it will get back when get stuck,, if ....
@ Shri...:):):)......Anand....:):):).....State of Mind Reprogramming ke liye kuch bhi karenga.....:):)
Looks like hawala will protect and gap up opening on monday???
Time to plan for week-end relaxation... put the Buds on ice , feet-up & chill maxhave a nice weekend all, bye !
in FUTURE LEVELS
7200 puts create a huge support at that level..hard for nifty to break till more call writing occurs at that level.for now 7245 -7220 is a great intraday trading oppurtunity
@ChetnajiAisa to expiry pe bhi nahin hota...day 1 ka yeh haal => Writers enjoying? Kya kar rahe ho ?
@Master,What value of Nifty Spot should be taken for today's low for the purpose of EMA calculation?Specifically asking because of the morning freak low.
kuch nahiin anand ji,,, sir ka lesson hai,,do the right thing,, sit back and relax parson ke trade hain,,,abhi tak kuch nahiin kiya except for part booking..
@ITFPD7215.85 is day low for nifty spot.TT by Master also receorded 7216 rounded off.
@ ITradeForProfit Daily,Anand has answered it.
Part booking - am yet to learn that art Chetnaji.... still in KG Class... :-(
@anand ji,, meri bhi promotion abhi abhi huaa hai....koi naa aajao peechche p[eeche.....bas rukna mat...you will reach for sure
At the closing bell - BN reaches Day S3, Week S2 and closing below DLEMA and WHEMA.
Golden comment by master at 2.22 time. To be saved in mind for ever. This the light house for long term investors. Thank you master.
@ Ilango sir...Sir what is the next support level for bank nifty??