Tuesday, June 10, 2014

Nifty Intraday Update-III


33 comments:

Ilango said...

@ raman perumal,

I would look for weakness below 34 Hr sma which is rising & presently at 7525 to consider "C".

J.R.Julius said...

@Mr.Illango,
Kindly check your mail & Please do share your inputs.

anmpatel said...

@shriram
can u through some more light on TCS...i look your yesterday chart but it was weekly chart...today it is above JNSAR...any near term good tgt? this is my first trade on TCS (in stock also)...
thanks.

Chetna Jethi said...

@Prabhanshu,, 3rd in RCOM .......look at volumes, bro!!!

anmpatel said...

@shriram
i am asking because as per SAR rule close above 5DHEMA...carry long....!!!

shriram said...

@ ANMP:

no idea on JNSAR.. TCS has completed a Hi-prob WXY or Exp. Trig on Wk TA & now

if trades > 2300 will gun for new Life Highs..

anmpatel said...

@shriram...
ok..ok...i should stop this venture (trading in stock) but in this corrective period of nifty....i feel chalo thoda haath mar lete hai....ha..ha..
thanks.

Guru Krishnan said...

Hi Julius ji.. sent your a mail,,please check when your free. Thanks!!

shriram said...

@ ANMP : sab dekhne ka nazariya hein.
Aapko molar aur canines mein sundarta dikhtee hein, aur apun ko Signal Processing Filters mein ;-)

anmpatel said...

@shriram....
for molar aur canines....better remember the great "cooldent"...

shriram said...

to chalo.. thyroid aur dulco-lax mein aap dhuund lo ;-)

Aly said...

Dear Ilango Sir,

A query: In the chart you have marked iv at channel point and also pointed out it as negation point label for "i". But the iv wave characteristic itself would lead the nifty to break the channel briefly and enter back into channel. What indicators / other factors have you taken into account for considering the break of channel as negation point of "i"?

shriram said...

IT is lending support today , wen BN has cooled.... its amazing to see the rotations one by one..

Ilango said...

EW is just a name for identifying "segments of price action in upmove and downmove" which is the pre-requisite to "apply retrace strategy".

Knowing the correct segment of an upmove (or a downmove) is very important to consider a retrace strategy.

As we look for a retrace of an upmove, the prices drop a little but continue to move higher and in such a scenario, we wouldn't have initiated a trade and nowe we have to redo the retrace ratios again.

You may say, you don't understand EW but your identifying segments of move is one of the basic inputs in EW. EW becomes complicated by its practitioner. For me, it is always "One segment that is relevance" at a time.

Having said all these, my input for you is:

Do not follow just 30minute T/F bars/ candles-this must be used for fine tuning...

But

Follow Day & Hour to identify a "move" which needs ratio calculations and then move down to the next lower T/F to see whether it synchronizes well as a total picture.

For Eg:

Today's opening price action was followed with our last day's comment & retracement table suggesting a segment of upmove unfolding from 7626. And when the price retraced faster from 7683 swiftly, especially in a overbought market, we chose 61.8% break as a sign of weakness at 7648 and kept the "test of DHEma -7590" as the first target. Subsequently we also identified a segment of fall from 7683 to 7579 and kept the retrace ready as well as "trend asserting again keeping above key averages such as 21 or 34 Hr smas".

Markets are always eveolving...flowing and is never the same.

Keep your tools ready - Let them be few.

Use these tools at appropriate time.

Ilango said...

@ Aly ,

There are two channels drawn: Green(21 Hrsma) and a dark Blue(34 Hrsma).

Break of green channel would identify the "iv", provided it dows not break the dark blue.

shriram said...

Too gud master :-)

Ilango said...

@ Aly ,

Market can do anything: It could break the dark blue channel(34 Hr sma) and then reverse too..

Let us keep that option also alive.

J.R.Julius said...

Sir,
Thank You very much For the Valueable Inputs
regarding ratios.

Aly said...

Thank you sir for the clarification

raghava said...

Reached 80% of Last Fall

herry said...

dear sir tomorow BN jnsar plz..?

ravi said...

master, do u expect another down fall tomorrow.

chetas said...

Hi Shriram

Hammer / hanging man candle formation, and outside bar candle, your views

shriram said...

Hi Chetas

The lows have been bought today havent they ? BN yet to play ball tho , have a nice day :-)

chetas said...

average closing running at 7652-53 increasing

Nilesh said...

dear sir,
if iv over than v target ?

raghava said...

Tomorrow Gap Up?

Ilango said...

@ ravi ,

We suggested :

============================================
Ilango said...
@ amber ,

Prices are trading above 21 hr sma, support zone of aggressive traders.

Fall has brought hourly indicators near the oversold zone; hence, we look out for support @ 21 hr sma, incase of any more weakness

as well as

look out for reversal from hour indicators such as "9 hr-rsi, fast macd & stochastics" in the next 2 hours..
June 10, 2014 at 12:37 PM
=============================================

Technically, the ST which moved down has reversed "UP";

For weakness, we need to see how prices behave around 7685-7700++ tomorrow.

Amol Sharma said...

hammer candlestick pattern. good day

Aly said...

Dear sir,

green channel may also be broken if we consider another alternate labeling which would have 7216 as start of i till 7270 (however the wave movement seems more to be a 3 wave rather than 5 wave) then 7217 as ii, 7381 as iii which would imply iv to break green channel.
Though the market seems to have gone by closing and seems to be headed for v

ravi said...

thank you master, I entered long yesterday and due to sudden fall i covered my long @ days low. Anticipating close around 7520 I shorted @ days low !!!. All these days i carefully traded but today i got carried away with sudden fall. A new lesson learned today paying last weeks gain as fee

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