Friday, May 23, 2014

Nifty Pre-Market View.

FII's have been selling in small qty for the last three sessions in the run up to the swearing-in-ceremony, another sentiment driving event after the "Election results day".
However, FII's seem to be in a speculative mood to remain long in Futures market and that reflects in prices.
Prices continue to close above all key averages.
Red "b" and green "iii" direction "up".
Holding above 7247-58, uptrend continues towards the two lows(7352-64) made after the recent top and then, if strength remains & key retracements held, towards the two highs made after the top(7414-15). The strategy that has worked well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL".
Yesterday too such trade points emerged, and towards the end, the last rise has held its "key retrace at 7250-64".
Hence, Holding above "7247-58" is stated above considering key hour lows..
Next rise may have started from 7259.80...
(7336 is 30 points + DHEma of the day)

17 comments:

Prabhanshu Raman said...

GM Sir and Friends... Finally Pre Mkt is back:
RCOM Daily EW Counts: Click Here
RCOM 15 Min EW Counts: Click Here
RCOM IHNS Pattern: Click Here
RCOM 15 Min +WW Pattern: Click Here
Nifty 15 Min EW Counts: Click Here
Nifty 15 Min IHNS: Click Here

kizar khan said...

Satheesh sir,

tatamotors view , yesterday it was below 430 , im into short .now again it is 438 ? bit confuse sir .
confusing sir long or short

anmpatel said...

@master and friends,
day before yesterday HA formed DOJI and yesterday it formed bullish candle with HA open-low same at 7255. today HA open-low same 7270.

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shailesh said...

sit i have long rcom at 138 can we exit or stay with sl 142.25

kizar khan said...

Master and seniors, please guide on tatamotors

anmpatel said...

@master
is it awaiting 3rd? looking from price impulsive view?
thanks.

anand said...

Sir
Crossing 7352, would confirm correction is over ?

Kiran said...

Trend assertion day...Friday

satheesh said...

Namaste Sir and all,

@ kizar khan, please have a track of the parameters and book your trade or place Stoploss as per the numbers which have guided you to take the entry -

Yesterday once it broke 434 - it went down upto 428 - found support at the Channel support and has shot up.
Scenarios present:
Bullish:
A. As per Day charts iv wave is over at 426 - today's low and 20 DMA - and vth has started upwards
B. Holding above 10DMA/5DMA - 439 and 437 respectively the upmove is likely to continue.
C. As per Hour Charts breakout of the Rising Wedge.

Bearish:
1. As per Day charts - the pullback has occured from the 20 DMA to 10 DMA and staying below 439, the down move continues.
2. Fast fall set up is present with 5DMA@437 and 10 DMA 439. So, a minimal closing of 2 hours above 440 is a must for the upmove to continue.

Ilango said...

@ anand,

The sideways range of 7193-7320 has been broken; Now the trailing may be done from last low of "7260".

This much is clear...

Closing above DHEma & a follow up would confirm the return of momentum. I'm looking it as a run-up to swearing in ceremony - sentiment driven..

amber said...

Guru ji charan vandan and everyone good morning

Prabhanshu Raman said...

RCOM Update:
1 136.00 141.65 -5.65
2 141.65 137.35 4.30
3.1 137.35 143.95 -6.60
3.2 143.95 xxxx (keep retrace handy for the rise from 137.35 to 143.95)
I am considering 3 wave subdividing cz correction from 143.95 should not go beyond end of wave 1 ie 141.65 but it did. Also, I see bull flag bo above 143.95 (invalidation if prices retrace more than 61.8% of the last rise)

DNSHUKLA said...

Good Mng Sir and Friends.

anand said...

Thanks a lot sir,
Have got the fib table...
Now retracement levels for 7260-7363 rise are for reference of blogmates :

23% - 7339
38% - 7324
50% - 7312
61.8%- 7299
80% - 7281

Crorepathi said...

Sir,
I had JNSAR position which I booked profit when (1) was completed, was waiting for (2) to complete to go long but now presented with bullish possibility, how do I go long?

Ganesh IC said...

Good morning sir & JN family

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