Thursday, June 19, 2014

Nifty Pre-Market View.

FII's are net buying consistently during this month except on two minor days.
But prices, in the short term, have closed Below two key ST averages.
"Impulsive 3rd wave" seems to be underway with continuation of correction, the current one being "(2)"nd sub-wave;
The ST direction is "Sideways" till prices continue to close between DHEma & DLEma.
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.
Note how prices are consolidating in a broader channel and remaining in the "upper zone", having positive bias. Once they break this middle line, the bias would turn negative.
Momentum would return above this channel.
Consolidation continuing for "investors" for the next big upmove as long as "7300" is protected.



28 comments:

vksoni said...

Good morning ilango sir and blogmates

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

J.R.Julius said...

Good Morning Sir & Blog-Mates,
Have a Happy & Prosperous Day. ♥
-
Cámáríllá Key Levels - Nifty Spot
H4@7639 ↑ D.Hi.EMA+2
H3@7599 ↓
L3@7518 ↑ D.Lo.EMA
L4@7477 ↓
-
Trade Like a Sniper… Not a Machine Gunner.

BangaloreCash said...

Good Mornig Master and all...

Prakash said...

gudmorning master and all frnds

Crorepathi said...

Suprabath Blog mates!
STBSTB,
Very true the universe is under constant change between duality i.e waves and particle as per quantum physics, which is represented by "Cosmic dance of Shiva". Markets also going under constant change and trying to find balance between supply and demand but it's always spiraling up as it's representation of life.

Anandha said...

Ilango sir,
I see divergence on trend Indicator works better always from the time following your blog.
Do you see this possibility ?
http://prntscr.com/3u9uej

Manish said...

Goodmorning master and all friends,

Sourav Kundu said...

JNSAR triggered again on the long side... based on my experience I have seen that a series of JNSAR triggers/whipsaws are a precursor to a big move in the direction of JNSAR... the key here is being nimble footed and aligning to the JNSAR trade. I remember May 2012 being one such month when [if I am not wrong] we had 11 or 12 JNSAR triggers in a month. I played all of them... I may have lost money in the trades, but what I gained cannot be measured. Ilango sir... like always, thanks for everything.

Ganesh IC said...

Good Morning Sir & JN Family

Prabhanshu Raman said...

GM Sir and Friends,

I am totally confused. wats happening... Now is it Global News which shd be used for selling at higher level? But main trend is up?

marina s rao said...

GM master & Blogmates.

Wish all long life, health, peace & wealth.

shriram said...

GM Master & JN Family,

Data & Bhaav ... again @ odds, early morn. Pattern visible is i-HnS, but 76 strike is still in Bear hands as of now .

Sell on Rallies may be the way to do it today, else its a sucker-play .

Have a gr8 tradin day !

Prabhanshu Raman said...

recent low made - 7583.75 => JNSAR short now?

Rajaram'z said...

Seniors,

Yesterdays JNSAR was short (7584-20), today JNSAR value is 7584 again therefore we add 20 points to it. Eventhough it touched 7604 now it should have reversed again to shorts @ 7584. Will be long only above 7604.

Is the above right.

Yes lot of whipsaws lead to a bigger move, waiting for the same.

Ilango said...

@ Prabhanshu Raman,

"(b)" waves tend to cause confusion during "intradays"...

Ilango said...

@ Anandha,

As long as prices remain above the "middle trendline in Hour chart", such a possibility exists.

shriram said...

For chess fans, Anand beat Carlsen ystiday @ World Rapids , DXB.

And Chile beat Spain handsome.. may be the end of the Tiki-Taaka era !

Chetna Jethi said...

@PRabhanshu...jnsar has to be given few points 20-30 to survive.. so, jnsar trade is not short but LONG

Ilango said...

Do You believe in a sideways market...?

If so, do you use "Supports & Resistances" to initiate trades??

Bharat Kumar said...

Ilango Sir - What would be the approx breakdown point?

ITradeForProfit Daily said...

Nifty touched ND Sir's ATR Sell Zone and pulls back 50 points.

Ilango said...

Look at the Pre-Mkt "Resistances & Supports" and notice the placement of resistances & supports from the "Pivot.. The distance should suggest the day's "Bias".

Hitendra said...

another swing down of 150 points in BN post a positive start !

Hitendra said...

another swing down of 150 points in BN post a positive start !

Bharat Kumar said...

@ Ilango Sir - Ok. Thanks! :-)

Sunil Minz said...

sir
in sideways market moving averages fail miserably all the technical books says so martin pring wilder
etc ithink this may be the reason daily jnsar is hitting guide me.

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