Friday, May 30, 2014

Nifty Pre-Market View.

FII's are net selling in small quantities for the last many days.
Prices, in the short term, continue to close below all key averages.
"Flat Correction" is unfolding; the direction is now "biased down" in the ST till prices continue to close below these key averages.
Holding below 7314, downtrend would continue....(7314, week pivot)
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
On Thursday too such trade point emerged at open, the last fall (from 7338 to 7302) was retraced to 61.8% at 7325 and market fell and reached DLEma less 30 points at 7224.
Last fall may be treated as from "7295".

30 comments:

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

San said...

Good Morning Ilango Sir and Friends

INFOSYS Chart update: CLICK Here

Prakash said...

Good morning Master

Prakash said...

Last fall from 7295 -7224 retrace done yesterday at 7260 (50%)? and fall continue to new low?

Magesh Waran said...

Goodmorning illango sir & blog mets

anmpatel said...

good morning master and friends
after many days HA formed bearish candle yesterday with HA open-high same at 7332.5, not today HA open level is 7304.
thanks.
http://prntscr.com/3nwtco

ITradeForProfit Daily said...

Nifty spot low at 7118.45 !!!

amber said...

Guru ji charan vandan and everyone good morning

anand said...

Good Morning.
At open, NS Freak low of 7118 ....NF low 7265...! May is still showing shapr moves - even if freak ones.

Rajaram'z said...

Master & Sr's

I see in trade tiger the following.

1. Hourly, 5 mins chart doesnt show a low of 7118 for today
2. Day and week charts show a low of 7118.

Do we ignore this low ????

ITradeForProfit Daily said...

Cannot term this one as completely freak. There is similar low in Sensex as well.

vishnu said...

Namaskar & Very Good Morning

krsnatrade r said...

GM sir, and frnds
NIFTY SPOT Low 7118

Num Char said...

Good Morning Sir and JN Team !!

Hitendra said...

Sbi under the hammer again ...

anand said...

Yes ITFPD !! and that's scary....
So we shall see targets for red 2nd sooner than later.....?let see..
These trades scare us...need to find a way to avoid "Knockouts".....
Lets see if Master / Shriram / Seniors can give soem tool from their arsenals for such events...

These are worse than RBI days' roller coasters..! There we know and futures aso move...!
Lets study on Weekend to decipher it...

Hitendra said...

BN falls 150+ points in straight line !

anand said...

And yesterday freak low of NF 7241 is reached today....as someone said these numbers are reached in short term..most of the time...! Let see.

shriram said...

GM Master & JN Family,

Have a gr8 trading day !

Kiran said...

1st day of series and BNF premium only 5-10 points.... Some banks do have dividend pay out next month

DNSHUKLA said...

Good Mng Sir and Friends.

Kiran said...

7244.00 7250.61
is 50 and 61.8% of 7272-7216 fall

DNSHUKLA said...

Good Mng Sir and Friends.

kizar khan said...

Hi masters and seniors , please update view on tatamotors chart

vksoni said...

Ilango sir,
A 5 in 5 min complete from 7338?

Prasad said...

Sir / Seniors,
GM. Do they basket sell in cash to get a low on nifty / sensex without making a new low in futures?
Pl explain.

mayank said...

HDFC low recorded at 810, that seems to be the reason for Nifty low .

Ilango said...

5 completed frpm 7344 to 7215.

Gani said...

as per your chart.. r we in over sold zone.. is that positive for market.. pls guide??

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