Monday, June 9, 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 7498, the last low, 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.
7534-46 & 7517 are two key supports today.
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What are your regrets, looking back, as a trader?
And what are you doing about it?
Or You have no time to "look back"?
And if you have no regrets, you are on your way to Get Rich Slowly and Quietly..

51 comments:

BangaloreCash said...

Good Morning Master and all blog mates...

Suraj said...

Good Morning Ilango Sir and Friends

Amit Agarwal said...

Good morning all. I am new to trading and would like to understand one thing.Open interest is decreasing on a daily basis for NF but prices are increasing.Does it not mean new money is not flowing into the market, hence trend strength should be weak. I may be biased because my position is in loss (relied too much on OI). However, cash volumes are up. Please guide.

Pattern Trading said...

Good Morning master and all blog Mates


Adadni Enterprise Elliot wave count CLICK HERE


Andhra bank Elliot wave count CLICK HERE

Axis Bank Ellliot wave CLICK HERE

Tata Steel Elliot wave CLICK HERE

Amit Agarwal said...

My regrets as a trader:

Not acting fast enough despite seeing the signs
Fearing losses too much
Relying on indicators such as OI and futures premium and not looking at prices
Consistently bearish view due to fed tapering and comments by some top US traders

My biggest regret is failure to leave my biases while trading. I think every new trader will have to learn to leave their personal biases while trading. I have read it, understood it but fail to apply it. Any suggestions on how to do it are welcome.

marina s rao said...

GM Master & Blogmates.

Wish all Peace & Prosperity.

DNSHUKLA said...

Good Mng Sir and Friends.

D.S.SASAN said...

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

Have a Happy Day.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Sunil kumar Minz said...
This comment has been removed by the author.
Prakash said...

gudmorning master and all fnrds

anmpatel said...

Good morning master and friends.
today's HA open level is 7475.8
all the best

sometimesbullsometimesbear said...

@7500 bye bye....Welcome 7600.........:):)

Prabhanshu Raman said...

GM Sir and Friends.

Chart Analysis - RCOM, Nifty, Wipro and Bhel: Click Here

Guru Krishnan said...

@STBSTB --- looks like 7700 welcoming :)

J.R.Julius said...

Good Morning Sir & Blog-Mates,
Have a Happy & Prosperous Day. ♥
-
Cámáríllá Key Levels - Nifty Spot
H4@7636 ↑
H3@7610 ↓

L3@7557 ↑
L4@7531 ↓
KISS - Keep It So Simple!

anmpatel said...

Sh...sh...sh...
Nifty in ATR sell zone......let it breakout today and also reach to breakout tgt.....6oti si aasha....

Sonu said...

Good Morning Master and All Friends!

Breakout stock of the day "GRASIM"
http://www.niftytrader.in/nse-stocks-volume/

Have a profitable day ahead!

Prabhanshu Raman said...

Chetna, the only bearish pattern in RCOM is rising wedge in 60 mins chart. It will breakdown below 151.05, T1 149.70, T2 147.60, SL at 151.70
But there was triangle pattern as well having tgts as T1 150.95 (done), T2 159.60, Sl at 142.90.

So I am bullish till 142.90 is saved. But not sure on TSL

sometimesbullsometimesbear said...

@GK ...Fundamentally basically really economically nothing has changed in India except for a new government.......5.....6....7....all driven by expectations.....and can come down like a pack of cards if expectations are not met........

8000..IF AND ONLY IF we get a good budget......then we can think of consolidations and corrections......:):)

Ganesh IC said...

Good Morning Sir & JN Family

Pattern Trading said...

DLF, BEML,Unitech,indiacement & Tatapower all broke out...

Andy,your friend, philosopher and guide said...

Best of Luck!

wingoodlife.blogspot.com

Pattern Trading said...

Forgot to mention Tata steel fresh breakout

Andy,your friend, philosopher and guide said...

Best of Luck and have a good health!

www.wingoodlife.blogspot.com

Stockathon said...

Good Morning Sir & Friends...

Sonu said...

Despite heavy Put writing, 7500CE remains the strongest of the lot.
http://www.niftytrader.in/nifty/live-nifty-open-interest/

Need to see if it stands by the end of day.

shriram said...

GM Master & JN Family,

Have a gr8 trading day !

prakashbkc said...

Pattern tradingsir,

Does Bajaj Auto too brokeout on weekly chart?

CDG said...

Dear Ilango,
good morning and thank you for your so clear EW analysis. Some queries please
1. How to be sure that waves are extending( and no sub, minutte waves).
2. when waves sub divide it shows more bullishness(during an uptrend). Correct?
3. if this 3rd wave is extending then there is a possibility that 5th may truncate or remain subnormal (i.e. even less than 1st)?
Regards,

Guru Krishnan said...

@STB -- Yes Agreed!! For SAR trader nothing much matters :) have a great day all!!

Pattern Trading said...

Hello prakashbkc Bhai,

Please call me sumit :) .. Bajaj auto confirmed breakout only aboce 2200

prakashbkc said...

Sumit sir ,

Thanx for reply, I m consistitently watching ur stockchart Great work sir

Sonu said...

@Shriram Sir,

-WW in BN still valid?

Chetna Jethi said...

Good morning Sir and all.....
@ Prabhanshu,
i see a breakout in rcom above 155 now for new 52 week highs..LNFH is another stock i think you would like to be bullish about.. Have a look

Chetna Jethi said...

@Prabhanshu,, rising wedge needs to be accompanied by a negative divergence... it is a triangle....

Prithvi Raulji said...

@All

Good Morning Family

Prithvi Raulji said...

@Shriram ,

BN -ww Pattern Valid ????

shriram said...

@ Prithvi:

The pattern is there staring out on the Hr T/f... Trigger is already mentioned as Hr candle close < 15,610 BNS...

Valid or invalid is a subjective Q. No answer to it

Magesh Waran said...

goodmorning illango sir & blog mets

Prabhanshu Raman said...

Agree, -ve divergence for rising wedge. But why you see bo above 155? And what tgts you are getting

Sonu said...

Thanks Shriram Sir,

If one wants to take this trade, what should be the SL for this -WW?
it already did 120 points above the 15610 line.

Prabhanshu Raman said...

PT, hard work during weekend is paying off :-)

Prabhanshu Raman said...

Nifty bo at 7425 gives 2 tgts - 7608 (done today) and then 7905. Munh mein paani aaya ?? :-)))

shriram said...

Sonu:

Entry into a pattern is strictly Post 1-3-5 trigger.. For muneem ji kind of trading, SL is 1/2 x min. Tgt of the pattern, which is 38.2% of the wedge below the 1-3-5 trigger

Ruffly 35pts wud be the SL for 70 pts min tgt , strictly post trigger .

Pls note PATTERNS need to be backed by price & OI ** As of now there is NO TRIGGER, there is just 1 pattern

Pattern Trading said...

Prabhanshu :)

Regards,
Sumit

intraday trader said...

sir how abt alternate view ...if 7563 is 3rd top 7118/7216 is 4th n this tired rally 5th leg ..
moves from 5933 .... (1) 6105 (2) 5984 (3.3 (iii)) 6562 (3.3(iv)) 6433 (3.3) 6872
(3.4) 6638 near ivth of 3.3.5(iv) 6650... 3.5th leg frm 6638... have 5 leg 3rd was 7180+ 4th 7080 n big 3 complete 7563 in 5th spike..
ABC correction till 4th leg now.. 5th going on .... is this count possible

CDG said...
This comment has been removed by the author.
CDG said...
This comment has been removed by the author.

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