Tuesday, July 22, 2014

Nifty Intraday Update-II


Ilango said...

Intraday weak below "7725"

herry said...

DEAR SIR BNviwe given..

Ilango said...

@ Prithvi Raulji ,

Trigger 44.83

S.Macd: 50.37, presently.

Ilango said...

BN, if holds around 15400, could rise to 15500 approx..EW

Prithvi Raulji said...


your view on Reliance??

Is 2nd or 4th over and contd in uptrend??

cooldent said...


A five completed at 7749 and a new set started at 7733?

Ilango said...

@ cooldent,

7674 to 7753, almost a 5 done. (Alt. would be only 3 done.; hence, 7725 would decide)

Prabhanshu Raman said...

Cooldent...bingo..I was abt to ask same

Ilango said...

@ Prithvi Raulji ,

In which T/F and from where the prices started "this wave"..?

Prithvi Raulji said...


Sorry for my mistake,

Now As Per Daily TA of RIL,

Could Tgt 1180-1200??

Ilango said...

@ Prithvi Raulji ,

RIL seem to be doing a flat correction from 1145 highs.
A - done
B- in progress - it could be irregular or it gets sold around 1145.

The ST direction is up and get cautious around 1145, looking out for any weakness pattern or divergences.

Alternatively, correction completed at 958.50 and a new upmove is unfolding.

jai bhole said...


sir & blogmates

nifty facing resistance at 7750 levels

jai bhole

Prithvi Raulji said...


One more Q.

In NS MACD Trigger and Hourly / Daily Indicator in overbought
Could Possiblity still exist for 7300 ???

And if MACD cross over seen in any Stock / Indiaces ,is it long/short term bullish or bearish judgement going confirmed on MACD crossing based??

Please can we give more important to MACD crossover??

Ilango said...

@ Prithvi Raulji,

Always take the "Overall picture" taking into a/c technicals developing in higher T/F. This way, you get to choose the best trades.

Getting too close to one indicator without the "birds-eye-view" could be misleading.

I have seen, when the markets are stretched, the macd gets triggered with prices making new high but that is how far they go and the "turning down" would be accompanied by sharp fall...

Prices, being the final factor, do not get attachwed to an indicator; if prices break key levels/ averages, accept the new infor and act on it.

Ilango said...

1,2,(1),(2), i, ii, (i), (ii) conitnues...

Break of 7740.35 or 7732.80 would break this pattern....

Ilango said...

7715 7705 ... is 50%-61.8% retrace of the last rise from …… 7674 to 7756

80% is - 7690

If strength to return again, it should be around 7715 7705

Weakness gets confirmed Below 7705 OR 7690

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