Tuesday, June 10, 2014

Nifty Pre-Market View.

FII's are net BUYing in BIG quantities for the last few days.
Prices, in the short term, have closed above all key averages.
"Impulsive 3rd wave" seems to be underway after a flat correction (which foretells of bullish undertones);
the direction is now "UP" till prices continue to close above these key averages(21 or 34 hr smas). Aggressively Holding above 7561, Conservatively Holding above 7527 uptrend continues....
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.
7625-33 & 7586 are two key supports today.

24 comments:

Suraj said...

Good Morning Ilango Sir and Friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

amber said...

Guru ji charan vandan and everyone good morning

Rasendra Zala said...

Good Morning to Ilango Sir and friends.

Squander Star said...

Good Morning Master & Friends.

Sunil Minz said...

GM and have a nice trading to you all and namaskaar to llango sir jee.

Ilango said...

7655 7648 ... is 50%-61.8% retrace of the last rise from …… 7626 to 7683

80% is - 7637

If strength to return again, it should be around 7655 7648

Weakness gets confirmed Below 7648 OR 7637

=========================================================
Weak below 7648.

Ilango said...

Heading to 7590, DHEma initially. And then,..lower.

7591 7569 ... is 50%-61.8% retrace of the last rise from …… 7498 to 7683

80% is - 7535

If strength to return again, it should be around 7591 7569

Weakness gets confirmed Below 7569 OR 7535

J.R.Julius said...

Good Morning Sir & Blog-Mates,
Have a Happy & Prosperous Day. ♥
-
Cámáríllá Key Levels - Nifty Spot
H4@7706 ↑
H3@7680 ↓
L3@7629 ↑
L4@7603 ↓

-
* Trust Your Backtested Trading System
* KISS - Keep It So Simple!
* Standout of the Crowd

Ganesh IMR said...

Good Morning Sir & JN Family

Ilango said...

One need not cry out "Bear...Bear", everyday.

When the prices break "Key retrace" and Ket number(avg), you start with "Intraday sell" and be in the ST direction to make successful trades.

Prices may be retracing the rise from 7361 to 7683 as a "iv" th wave for which it should find support near 34 Hr sma.

DNSHUKLA said...

Good Mng Sir and Friends.

Ilango said...

Retrace for 7361 to 7683:
========================
7522 7484 ... is 50%-61.8% retrace of the last rise from …… 7361 to 7683

80% is - 7425

If strength to return again, it should be around 7522 7484

Weakness gets confirmed Below 7484 OR 7425

Ilango said...

7433 is "i"st wave; hence, ivth should end ideally breaking the channel/34 hr sma around 7500.

shriram said...

GM Master & JN Family,

Have a gr8 trading day !

D.S.SASAN said...

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

Have A Happy Day.

Chetna Jethi said...

7682-7613 A/1
7613-7639 B/2
7639-7579 C??? OR A=C at 7670
or a 3rd ???

Chetna Jethi said...

though C has done its minimum in the above count

Anandha said...

Sir looking for 7505 Nifty in this correction. Hope this will be possible.

shriram said...

BN's -WW has delivered 50% of the Wedge tgt..
ideal 1-4 tgt is 15,100 & its trading < 5DEMA as of NOW

Sunil Minz said...

BN has broken 21&34 hrly avereges comment llango sir

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