Friday, June 20, 2014

Nifty Pre-Market View.

FII's are buying interspersed with a day of selling during this month, typical of consolidation.
Prices, in the short term, have closed below two key ST averages.
"Consolidating 2nd wave" seems to be underway within a broad channel, as long as prices stay above the cluster zone of 7322-44;
The ST direction is "Sideways" till prices continue to close between DHEma & DLEma and continue to close below these two key averages (21 or 34 hr smas).
Aggressively Holding below 7589, Conservatively Holding below 7610, correction 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.
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.(It broke down yesterday)
Momentum would return above this channel.
Consolidation continuing for "investors" for the next big upmove as long as "7300" is protected.
 7579-7589, earlier supports & 7610 are two key resistances now and
7478-84 & 7433 are two key supports today.
I will not be available during the 1st session.

50 comments:

marina s rao said...

GM Master & Blogmates.

Wish all long life, health, peace and wealth.

J.R.Julius said...

Good Morning Sir & Blog-Mates,
Have a Happy & Prosperous Day. ♥
-
Cámáríllá Key Levels - Nifty Spot
H4@7598 ↑
H3@7569 ↓
L3@7512 ↑
L4@7484 ↓

Guru Krishnan said...

Good morning master and friends... have a great day ahead!!!

--on funny side----Master isn't available for first session, so expect some kind of third :)

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Prabhanshu Raman said...

GM Sir and friends.
In 60 mins chart, to patterns are in making.
1. +ww => this will formed when prices goes below 7486 and then takes u turn and close above 7486 for 2 continous hours. Tgts can be worked out later.
2. HNS => this will trigger when prices closes below 7507 (aprx), tgting 7450-7460 and then 7327.
In given screenshot, blue lines are for ww and orange for hns.
http://prntscr.com/3ulszv

satheesh said...

Namaste SIr and all,

Diamond pattern formed in Tatamotors Day charts.
5 DMA - 436.35
10 DMA - 441.8
20 DMA - 434.85
Fast rise possibility between 5 and 20 DMA.
Holding EOD above 5 DMA is required for upmove.
DIAMOND PATTERN breakout above 450 and breakdown below 430.

Shall update charts later.

D Anand said...

Dear Ilango Sir,
If I am short with @ 7584 NS(JNSAR) with SL = 7584+30=7614 today, what would be the additional filter for tomrrow? pls help . How should I adjust the filter with tomorrow's JNSAR=7578

Ganesh IC said...

Good Morning Sir & JN Family

Prakash said...

gudmorning master and all fnrds

J.R.Julius said...

@Mr.D Anand,
Sir will not available in 1st session. Keep the same level which sir gave or today SAR+30
whichever you are comfortable with. Fear not, Keep faith in the system. Read these too :
http://tradeinniftyonly.blogspot.in/search/label/JNSAR

Best Wishes.

SAM said...

http://prntscr.com/3umbsw

SAM said...

breakout above 62 , breakdown below 10

Prasad said...
This comment has been removed by the author.
http://www.tradersgurukul.com/ said...

Time to buy Gold (our newsletter posted on 11.06.2014)

After weeks of taking short positions in Gold, is it finally that we can buy it? Well, lets open our charts or just click on the image to expand and we see that there is a bullish daily chart! There is a gap down opening when the future expired and hence the question arises, will the gap close? The MACD, where bulls are stronger this time, ticked higher yesterday and one should have bought when there was a candlestick pattern, hammer in the daily chart. The risk-reward to trade gold at 25900 was way too good. Even if the gap analysis is to be done along with your daily EMA to be considered as a resistance, one could go long with a 100 point stop for a target of 600 points. 1:6!!

25400 and near points are double bottoms for the chart and one should expect the Gold to rise on a pure technical point of view!

satheesh said...
This comment has been removed by the author.
jai bhole said...

niftyspace4u.blogspot.in

Ganesh IC said...

Fall from 7663 appears to be triangular correction (for rise from 7488-7663).

wave-a: 7663-7516
wave-b: 7516-7612/7606
wave-c: 7606-7503
wave-d: 7503-7562
wave-e: 7562- XXXX (in progress)

Normal wave-e should end near 7513 +/- 10 points.
(S4S mentions about busted triangle before reversal ?)

Asha said...

Good morning Ilango Sir and all the blogmates!

Ganesh IC said...

For slower retracement of 7488-7663 rise, 7488 should be protected till 11.30 am
(conservative trading)

Chetna Jethi said...

@Ganesh,,,thats a point..and its saved...so it adds to the idea of consolidation....

Prakash Tamilnadu said...

Nifty will show some upside move now atleast 7565

Sonu said...

GM Master and All!

Bulls slowly but steadily dominating the writing. Check the PE writing trend since morning for 7400, 7500 and 7600 strikes:
http://www.niftytrader.in/nifty-option-oi-trend-intra/

Sonu said...

Although OI is bullish intraday, 7600 remains a very strong resistance for the series:
http://www.niftytrader.in/live-nifty-open-interest/

Vaishnav Shukla said...

Hi everyone... Anyone pl tell me the blog address of ND sir where ATR sell & buy zone is mentioned..

Guru Krishnan said...

Hi All --- Am Back!! ...

@Julius ji - Thanks for the mail.

@Sujatha - Inniki yenna Nifty um silent neengalum silent ???

NI3 said...

@VS
http://www.niftyrange.in

chetas said...

@ Guru !!! this is silence before the storm:))))

Sonu said...

@Vaishnav
ND Sir's blog
http://www.niftyrange.in

Vaishnav Shukla said...

Thanku so much Sonu & NI3...

NI3 said...

@Chetas ji which side storm is expected ??
i am on selling side please let me also know
holding position with stop loss 7564
thanks sir in advance

J.R.Julius said...

Watch out 1hr Low@7531 ------

Guru Krishnan said...

@Chetas -- hoping so :)

durga said...

Gd afternoon master n blog mates
Shriram/ seniors- dev HHEMa n Hr JNSar please . Thank yu

J.R.Julius said...

@Chetas,
I expect fall below 7531-----. :)
Should break 7510 & 7486 for free fall.
Upside no idea personally but holding SAR+Filter in Mind

Prakash Tamilnadu said...

Intra high expected before fall.

Piyush Sharda said...

@durga
u are among the seniors :-). dev hhema 7557

Okay said...

b of c likely completed...and c of c is on targeting 15412+ on BN.

Sonu said...

@JRJ Sir,

Have you considered Bullish Intraday OI. Steady addition in 7500PEs
http://www.niftytrader.in/nifty-live-change-in-oi/

Please guide towards your conclusion.

J.R.Julius said...

Cam H4@7598 ↑ & H3@7569 ↓
Let the movement confirm till Rest.

chetas said...

@J.R.J, NI3,

Yes holding short.
Looking at the weekly candle, may be for big gains we will have to wait till next week.
JNSAR on our side, and sir has mentioned about " early warning system", showing potential sell off.

so holding position confidently with 7608, 61.8%, JNSAR +30pts as SL, this is also near PDH.

FII are building short position also shorts created in next month future as per Sanjai sir blog.

IF NF monthly VAH 7510-20 breaks can give good downside.

J.R.Julius said...

@Sonuji,
Except basics & I dont know about OI and not practicing it.
SAR - CAM - Pullback Observations only.

NI3 said...

@ Chetasji
i belive in JNSAR done paper trade past few days
Thanks a lot to build up confidence with your comment

Guru Krishnan said...

Looking at OI data... even there is a dip now.. 7500 will be protected, looks like a buy on dip strategy for the day!! lets hope for the best

chetas said...

As per volume profile chart, in NS 1 day POC is devolping at 7541, 2 day POC at 7544

5 day ( weekly ) at 7547 , 10 day POC at 7638 and HVN at 7547.

chetas said...

just had a look what is 7547, in TA , it is the developing week high ema





shady said...

Market is going down.....whats your view?

durga said...

@ piyush
Hah . But iam poor in maths n went fr Bilogy. Still weak ness continuing ,T.Q

http://www.tradersgurukul.com/ said...

Time to buy Gold (our newsletter posted on 11.06.2014) http://eepurl.com/W1t91
http://blog.tradersgurukul.com/?p=195

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