Thursday, June 5, 2014

Nifty Pre-Market View.

Prices, in the short term, have closed above all key averages.
"Flat Correction" seems to be completed; the direction is now "biased UP" in the ST till prices continue to close above these key averages(21 or 34 hr smas).
However, there is a channel resistance around 7446, approx. (80%)
Holding below 7450, correction could resume....
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.
7339-42 & 7374-87 are two key supports today.

28 comments:

J.R.Julius said...
This comment has been removed by the author.
J.R.Julius said...

Good Morning Sir & Blog-Mates, Have a Happy & Prosperous Day. ♥
-
Camarilla Keylevels - Nifty Spot
H4@7425 ↑
H3@7414 ↓
L3@7391 ↑
L4@7379 ↓

marina s rao said...

GM Master & Blogmates.

Wish All Peace & Prosperity.

marina s rao said...

GM Master & Blogmates.

Wish All Peace & Prosperity.

Anandha said...

Ilango sir, Hourly & Daily looks over bought. Line chart connecting daily closing prices have -ve divergence with trend indicator & RSI. However J10Sar is above JNSAR. What do you see the possibility here.

anmpatel said...

Good morning master and friends,
today's HA open value is 7375.7

DNSHUKLA said...

Good Mng Sir and Friends.

Financialwriter said...
This comment has been removed by the author.
San said...

Good Morning Ilango Sir and Friends

HCL Technologies Chart analysis: CLICK Here

durga said...

Good morning master n blog mates

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

anmpatel said...

@master
as per hrly chart now the TL resistance value comes to 7420(also Hrly HEMA), yesterday at open it was 7435 and nifty respect it. my Q is can we take breakout trade(add more long) on TL break with small(10) point sl or will have to wait till 7450 pass(as per pre-market)?
thanks.

kishan s said...

good morning to all

vishnu said...

Respected Master,
Namaskar

Prakash said...

gudmorning master and all frnds

Ganesh IC said...

Good Morning Sir & JN Family

Ilango said...

@ anmpatel,

Aggressively, long above 7415.

Ilango said...

7388 7394 ... is 50%-61.8% retrace of the last fall from …… 7415 to 7361

80% is - 7404

If weakness is to return, it should be around 7388 7394

Strength gets confirmed above 7394 OR 7404

Squander Star said...

Good Mrng Master & JN Family

" I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed. –Michael Jordan "

Happy Day Guys

Magesh Waran said...

goodmorning illango sir and blog mets

J.R.Julius said...

Cámáríllá Reached H5 exactly.
NS below DhEMA.

J.R.Julius said...

Now price around L4 again with small pull back.

J.R.Julius said...

Typo Err:
Cámáríllá Reached L5 exactly.
NS below DhEMA.

Chetna Jethi said...

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