Monday, June 2, 2014

Nifty Pre-Market View.

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.
However, there are positive divergences in the hour t/f and prices, in the last hour moved out of a small downtrending channel since 7344.
Holding above 7225, ST bounce would continue towards 7280-95.
Holding below 7318, downtrend would resume....(7317, 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 Friday too such trade point emerged at open, the last fall (from 7295 to 7225) was retraced to 61.8% at 7268(7272) and market fell and reached DLEma less 30 points at 7216(7211).
Last fall may be treated as from "7272", aggressively and "7344", conservatively.

21 comments:

Prakash Reddy said...

Good Morning Master

Dhirendra said...

Good morning Master

Suraj said...

Good Morning Ilango Sir and Friends

prakashbkc said...

GM MAster,

TA file for nifty & stocks kindly

marina s rao said...

GM Master & Blogmates.

Wish all peace & prosperity.

DNSHUKLA said...

Good Mng Sir and Friends.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

D.S.SASAN said...

Good Morning Dear Sir, Bros.& Sis's,

Have A Happy Day.

anmpatel said...

Good morning Master and Friends..

today's HA open level is 7273.7

all the best.

Squander Star said...

Good morning Master & JN Family..

Magesh Waran said...

good morning illango sir and blog mets

amber said...

Guru ji charan vandan and everyone good morning

anand said...

Good Morning...
So we are now in American Futures style- Discount to spot ..!!

Sujatha said...

GM sir nd friends :)

""Only thing that comes to you without effort is old age.""

Have a good day "bull"

Prakash said...

gudmorning maser and all frnds

Sonu said...

Good Morning Sir and Friends!

Have a profitable day!

Sonu said...

7300CE and 7400CE most active for the day so far:
http://www.niftytrader.in/nifty/nifty-volume-traded/

rahil sen said...

Strangely liquidation of calls written is occuring at 7200 levels rather than buildup..
causing nifty to have a false bubble.

Sonu said...

7400CE adding fast. Looks like a deceptive rise in play
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/

Magesh Waran said...

good morning illango sir and blog mets

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