Wednesday, June 11, 2014

Nifty Pre-Market View.

FII's are net buying consistently during this month.
Prices, in the short term, have closed above all key averages.
"Impulsive 3rd wave" seems to be underway with corrections of  72 to 104 points;
the direction is presently "UP" till prices continue to close above these key averages(21 or 34 hr smas). Aggressively Holding above 7612, Conservatively Holding above 7561 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.
7612-31 & 7593 are two key supports today.

26 comments:

Arun Ruhil said...

Good morning master

DNSHUKLA said...

Good Mng Sir and Friends.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

marina s rao said...

GM Master & Blogmates.

Wish all peace, health & Wealth.

Prabhanshu Raman said...

@Chetna, sorry couldn't respond to your comments, got busy in second half in office.
Rcom moved with volumes but couldn't hold the levels. So but sceptical about it but for sure it will hit our targets but may take sometime.
Do you have any view on tisco?

Chetna Jethi said...

Good morning every one.

@Prabhanshu,

currently got stuck in LTFH..not tracking..It has opened nightmarish today....i added yesterday and now they are selling.. Tisco am looking to long near 520-10..if by any chance it goes there....wont chase it any more unless something compels me in charts

amber said...

Guru ji charan vandan and everyone good morning

Prakash said...

gudmorning master and all frnds

Magesh Waran said...

good morning illango sir and blog mets

rj said...

GM Master.........please guide if we trade as per retracement strategy of selling at 61.%8 with sl of 80% what should be the targets we look for, thanks ....

sekhar said...

Good morning master & all

Stockathon said...

Good Morning Sir & Friends...

Ilango said...

5 sub-waves visible from 7579(yesterday's low) to 7676 (High of today).

Prabhanshu Raman said...

@Chetna, i think LTFH is in 2nd of 3rd. Look for the retrace for the rise from 70.65 till 83.10 and 61.8% comes at 75.47.
I think if you can hold your position, soon you will be in plus. best of luc

Guru Krishnan said...

Good Morning Master and friends.. have a great day...

Any news on SBI ??? Morning morning rocket getting launched?? for Upside or downside need to watch :P

Chetna Jethi said...

@ Prabhanshu,, holding my nerves..i hope i continue....

Chetna Jethi said...

rcom has hit 154.15 again today...tipple bottom???in last 2 days??

Ganesh IMR said...

Good Morning Sir & JN Family

NI3 said...

@Prabhanshu
what script is this LTFH?

rock said...

7579-7606 - 1st,
7606-7594-2nd,
7594-7638-3rd,
7638-7614-4th,
7614-7676-5th

Chetna Jethi said...

@Prabhanshu,, it can be doing its ABC up too...LTFH,, though nature of waves does not advocate this....it has retraced and got support at 80% of the last rally from its double bottom of 75.55.....i hope the low does not get broken now ....that will lead to bigger retracement

Squander Star said...

Good Morning Master & JN Family

Sonu said...

GM Master and All!

Infy showing breakout signs today:
http://www.niftytrader.in/nse-stocks-volume/

anmpatel said...

@master
after 7 hrs BN able to close above 34hr sma...any EW formation for start of 3rd like nifty? or still one downleg remaining...
thanks.

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