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.
-----------------------------------------------------------------
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..
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.
-----------------------------------------------------------------
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..
50 comments:
Good Morning Master and all blog mates...
Good Morning Ilango Sir and Friends
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.
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
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.
GM Master & Blogmates.
Wish all Peace & Prosperity.
Good Mng Sir and Friends.
Good Morning Dear Sir, Bros. & Sis's,
Have a Happy Day.
Namaste Ilango Sir and blog friends
LV
gudmorning master and all fnrds
Good morning master and friends.
today's HA open level is 7475.8
all the best
@7500 bye bye....Welcome 7600.........:):)
GM Sir and Friends.
Chart Analysis - RCOM, Nifty, Wipro and Bhel: Click Here
@STBSTB --- looks like 7700 welcoming :)
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!
Sh...sh...sh...
Nifty in ATR sell zone......let it breakout today and also reach to breakout tgt.....6oti si aasha....
Good Morning Master and All Friends!
Breakout stock of the day "GRASIM"
http://www.niftytrader.in/nse-stocks-volume/
Have a profitable day ahead!
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
@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......:):)
Good Morning Sir & JN Family
DLF, BEML,Unitech,indiacement & Tatapower all broke out...
Best of Luck!
wingoodlife.blogspot.com
Forgot to mention Tata steel fresh breakout
Best of Luck and have a good health!
www.wingoodlife.blogspot.com
Good Morning Sir & Friends...
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.
GM Master & JN Family,
Have a gr8 trading day !
Pattern tradingsir,
Does Bajaj Auto too brokeout on weekly chart?
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,
@STB -- Yes Agreed!! For SAR trader nothing much matters :) have a great day all!!
Hello prakashbkc Bhai,
Please call me sumit :) .. Bajaj auto confirmed breakout only aboce 2200
Sumit sir ,
Thanx for reply, I m consistitently watching ur stockchart Great work sir
@Shriram Sir,
-WW in BN still valid?
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
@Prabhanshu,, rising wedge needs to be accompanied by a negative divergence... it is a triangle....
@All
Good Morning Family
@Shriram ,
BN -ww Pattern Valid ????
@ 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
goodmorning illango sir & blog mets
Agree, -ve divergence for rising wedge. But why you see bo above 155? And what tgts you are getting
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.
PT, hard work during weekend is paying off :-)
Nifty bo at 7425 gives 2 tgts - 7608 (done today) and then 7905. Munh mein paani aaya ?? :-)))
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
Prabhanshu :)
Regards,
Sumit
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
New Post Done.
Post a Comment