Friday, July 11, 2014

Nifty Intraday Update-III


24 comments:

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

Sir - Whats the number for green "b" in the chart above - 7450?

Ilango said...

@ hitendra,

Irregular "b" could move down maximum by 1.38% of "a". which is a huge 95 points below 7479,

bb said...

Ilango, Why so much of Panic in the market, no supports are working and the bounces are also not convincing?

Aly said...

dear sir,

5 wave move complete from 7626?

Ilango said...

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.

anmpatel said...

Bearish engulfing pattern developing at weekly charts....follow up will needed of next week!!

Ilango said...

@ Aly,

Intraday sub-waves reading - just be cautious. They are deceptive; whatever you do, stay vigilant.

Ilango said...

@ @ 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.

Aly said...

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 :(

raman perumal said...
This comment has been removed by the author.
Bhavir said...

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

bb said...

What extreme volatility, 30 point up and down.

mridul deka said...

sir i have gone long abv 7455

ravi said...

sir can we carry intraday shorts for monday

bb said...

Looks like 7450 will be breached

Ilango said...

@ 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.

Ilango said...

@ravi,

Part book; Carry the remaining.

The immediate target, if external cues are negative would be MHEma & WLEma.

Hitendra said...

almost 1000 points fall since yesterday 2 PM on BN

M. said...

Fantastic insights and comments as usual Ilango ji, im really very grateful to you for sharing.

sudhin bathija said...

Ilango, do you still hold the view of buying quality stocks on declines or is it a wait?
Thanks,
Sudhin

mridul deka said...

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

Rajesh Singh said...

@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..

mridul deka said...

thank you rajesh ji

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