Monday, May 12, 2014

Nifty Pre-Market View.

Major break-out happened when prices moved past 6358.
Majore divergences @6819 & 6870 resulted in a "Pull back" to MHEma..
Next phase of the uptrend is unfolding from 6639.
There will be hour corrections of the magnitude of 45-65pts approx(we'll fine tune & quantify them.)
For the month, staying above Mth pivot-6739 and for the week, staying above 6790 are critical.
We don't know how high this market would go; we did speculate a 10,000 sometime ago.
However, managing your trades using a trailing number based on "Last rise Retrace" is quite important.
Because, market can do anything..
Presently, we follow with the latest signal.
A ST top would be made either today or tomorrow morning to be followed by two days of corrections which would be followed by a sharp rise unless " a last rise retrace gets broken".
Fast rising markets' sub-wave following up is always a challenging one. Take a step back...look at the larger picture..and follow.
We have seen Hour charts staying in OB zone with dots, then we saw the day charts doing the same...we are witnessing the week doing it and then the month...

21 comments:

San said...

Good Morning Ilango Sir and Friends

TATA Steel Chart update: CLICK Here

marina s rao said...

GM Master & Blogmates.

Wish all profitable trading day & week.

Prabhanshu Raman said...

GM Sir and Friends,

Patterns in TS, RCOM, AIRTEL, JINDAL: click here

DNSHUKLA said...

Good Mng Sir and Friends.

venkatapathy l said...

Namaste Ilango Sir and bog friends

LV

Nilesh Patil said...

Good Morning Master & Friends

amber said...

Guru ji charan vandan and everyone good morning

deepak pinto said...

Good morning sir and everyone

Suraj said...

Good Morning Ilango Sir and Friends

Raghavendra said...

BN at Week R1. Strong thrust above this will take the prices to 14450 to 14500 levels ( Week R2).

anand said...

Sir
Good Morning!
This upmove started from 6815 ? (For retrace levels) and larger from 6639 as you mentioned,

Corrections seems to be sharp at these levels...seems our SL will go from 20 to 25/30 pts.

Ganesh IC said...

Good Morning Sir & JN Family

POWERTRADE said...

Good Morning Sir and warriors

Prakash said...

gudmorning master and all fnrds

Manish said...

GM master and all friends

POWERTRADE said...

JNSAR --- Jan saar ---- aur kya chahiye --- :)

shriram said...

GM Master & JN Family,

Have a gr8 trading day !

Chetna Jethi said...

good morning all!! Rcom breaks out and starts a very rewarding trade....stoploss should be fibo retraces and 115.6 for deliveries and 117-18 for traders who are long...

Chetna Jethi said...

rcom targets 126-27...there is a resistance in hourly charts,...once crosses 126-27 zone..triple top 138 ... keep retracements and stoplosses strict in lieu of the event ahead

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