Master,Pls share your view on TataSteel and SAIL,Can a Long position be entered here for holding time of 7-10 days.
Prabhanshu,on which timeframe u found hns in Tisco.
Bhel- big bear flag in making. Break down below 242, t1 227 sl 250242 can act as good support also
@ ToT-Amit ,As stated earlier, Tata Steel is in a corrective mode.Look for a trend change in day T/F to initiate a trade with a SL.
Close of the hammer broken
@traders psychology and state of mind.....Besides price action....there is a lot to learn here about "Trader Psychology" when people discuss their trades or bias for a trade or a stock or the tendency to find affirmative opinions from fellow traders or affirmative news to buttress their trades....For eg...a trader is ready to short an uptrending stock but not willing to buy into an uptrending stock......Mind programming mystery....Jai Bhole.......Jai Bhole...!!!.....:):)
BHEL : on Day TA also can be a pot.Bullish Pennant Brkout ??!!http://prntscr.com/3wy3ml
Tisco hns : http://prntscr.com/3wy4j2Bhel bear flag: http://prntscr.com/3wy4j2
Banknifty has broken below the trendline connecting lows after 16th May???
sir niftyis ready to break 7481.
@Jai Bhole...comment was not for u......:):)...just liked ur nickname....it also coincides with a mantra (supersoftware code)....:):)
A 5 sub-waves done from 7532 to 7482.
7501 7507 ... is 38%-50% retrace of the last fall from …… 7532 to 7482 80% is - 7522 If weakness is to return, it should be around 7501 7507 Strength gets confirmed above 7507 OR 7522
a small bullish WW may develop in r com chartsmsy dip below 144.3 to form pt5trgts 147.3 till mondayin 15 day charts a larger WW is developing with trgts abv 170
r com at 144,25 may have formed pt5 or may form a bit lowertrgt 146.00 near 2.00pmand 147.3 till eod or monday open
@Prabhanshu,Could you share your thoughts on IDFC also when you have time?Thanks
@Raman, sure. Nifty - bear flag in 5 mins??
not deleted bcoz of u it was by mistake i and my team have confidence in our analysisso do not care 4 any body's comments.i am new to blog and comment writing so learningi have chosen this blog as i am a silent follower of Ilango sir from my initial days of trading and have learnt that views on mkts can be shared here.
weird thoughttoday being friday and considering intraday range of 100 odd pts then ns may probably test either 7580 or 7440
nifty update on blog
10 sma@ 7484. 25 sma @ 7577. breakdown or breakup at dese levels only
Master,I am long as per 50/61% entry rule with 80% SL....long @ 7518 yesterday..and 80% 7472 not breached......can I hold or exit before getting SL @ 80% ....(7472)guide me please......
Yesterday Low Tested1 hr key data 7507+ or 7482- for price action trader.
@ shree,I have shown you my reasoning behind taking up each trades along with the "Bias".For you:If prices move past 7507 immediately, minor strength. More strength only above "7513 & 7522".My view is clear.Are you confident in your view.
--> backDecepticon rise. may be 1 more LL to 7450-70 NS, and then a huge rise is on ?
so better to wait for SL....right.....though it is trading below key averages, reversing position is not suggested I think...this is confusion ..so asked....please clear me if I am wrong
@ shree,I never suggest to keep a trade more than 20 points SL.Please have your trading plan "fully ready...fully prepared" and then initiate trades.Do not jump in and then "ask questions"- that is not a way to develop as a confident trader.Market is just ruthless. Please.If you are not sure, don't take a trade.
New Post Done.
Master, To EW eyes, the suspect "y" leg down from 7593 can last for how many sessions in toto , as a 1time guesstimate ??