Sir - Whats the number for green "b" in the chart above - 7450?
@ hitendra,Irregular "b" could move down maximum by 1.38% of "a". which is a huge 95 points below 7479,
Ilango, Why so much of Panic in the market, no supports are working and the bounces are also not convincing?
dear sir,5 wave move complete from 7626?
Week S2-7455 almost done as shown in Pre-Mkt levels.@ bb,Weekend unwinding... Event over, profit booking on huge positions built.How the support emerges would qualify the bull mkt.
Bearish engulfing pattern developing at weekly charts....follow up will needed of next week!!
@ Aly,Intraday sub-waves reading - just be cautious. They are deceptive; whatever you do, stay vigilant.
@ @ Aly,,When EOD technicals are down, intraday rises have been found to be unsustainable. And selling into strength has been found to be rewarding.One need to know the trend and use this strategy in that direction alone.
Thank you sir for your guidance. Even though I have been trying to learn for so long, it seems so tempting to fall in such trade :(
Sir, Aly - I was trapped too with rise looking impulse and was showing signs of abc intraday .. Being adventurous.. Sir - what would signal / confirm green B? Uptick in rsi or slow macd
What extreme volatility, 30 point up and down.
sir i have gone long abv 7455
sir can we carry intraday shorts for monday
Looks like 7450 will be breached
@ Bhavir,Our experience with trending moves is to keep selling till one trade gets stopped out.As "Aly" said, it is tempting.Also remember, in a fast falling market, the counter trending "c" wave could be quite small and traps a trader. mridul deka,Do not convert an intraday trade to a positional without a confirmed reversal signal. And keep a small SL for intraday trade.
@ravi,Part book; Carry the remaining.The immediate target, if external cues are negative would be MHEma & WLEma.
almost 1000 points fall since yesterday 2 PM on BN
Fantastic insights and comments as usual Ilango ji, im really very grateful to you for sharing.
Ilango, do you still hold the view of buying quality stocks on declines or is it a wait?Thanks,Sudhin
llango sir, i want to increase my patience level for trading but How sir please help me. due to lack of patience and greed i suffered loss
@Mridul , this problem is with everyone..thats why we all are here..somewhere in this blog,I read that people with Army background does well here as they follow only instructions. They are disciplined and emotion don't play on them..
thank you rajesh ji