Thursday, May 29, 2014

Nifty Pre-Market View.

FII's are net selling in small quantities for the last three days.
Prices, in the short term, continue to close below most key averages.
"Flat Correction" is in the contention & the direction is now "biased down" in the ST till prices close below these key averages.
Holding above 7314, uptrend could continue....(7314, week pivot, also approx. the channel support)
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".
VIX range for the day is 7262 - 7397.
Being a settlement day, prices would behave erratically. Stick with your system and prevail over choppiness with disciplined following.

19 comments:

Guru Krishnan said...

Very Good Morning Master and Friends.. have a great day ahead

San said...

Good Morning Ilango Sir and Friends

SBI Chart update: CLICK Here

DNSHUKLA said...

Good Mng Sir and Friends.

Rasendra Zala said...

Good Morning to Ilango Sir and friends.

Ilango said...

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".

Last fall was from 7338.10 to 7302.50.

7320 7325 ... is 50%-61.8% retrace of the last fall from …… 7338 to 7302.5

80% is - 7331

If weakness is to return, it should be around 7320 7325

Strength gets confirmed above 7325 OR 7331

Num Char said...

Good morning Sir and JN Team !

There is RBI policy event some time soon , anyone knows when is that ?

FII selling in small quantity are they sniffing something ..

Arpit S said...

sir why am i not able to post anything in the justnifty group??

vishnu said...

Respected Sir,
Very Good Morning.

A J said...

@Num Char
It is on 3rd June

shriram said...

GM Master & JN Family,

Have a gr8 trading day !

Rajesh Rekhani said...

Sir,
My mail to JN google groups bounced. Any reasons?//
Pharma/ IT are looking up again, after a gap of FEB to MAY, can it be a warning bell for Banking/ Cyclicals??

Squander Star said...

Good Mrng Master & JN Family

Ilango said...

@ Arpit S,

Everything is under moderation since the "Spam" fiasco.

One by one I'll allow "posting without moderation" as the new posting comes. Yours, now, has been allowed without further moderation.

Manish said...

Goodmorning master and all friends....

Cement and PSU banking best performing in the first 45 minutes

Rajaram'z said...

Master & Sr's

In Trade tiger, the 21hr SMA and 24hr SMA are converging - does this imply a fast fall setup. Can someone confirm it.

Rajaram'z said...

Typo 34hr SMA crossing

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