Wednesday, July 2, 2014

Nifty Intraday Update-III


14 comments:

Ganesh IC said...

Thank you sir, for teaching importance of silence, patience and belief during corrections.

It helped me a lot, to get rid of frustrated distractors.

Ilango said...

@ Rajesh Singh,

These are two different EW labels.

One suggest that an "ABC" correction completed at 7442 and a new phase of uptrend started.

Other view is that "ABC correction ended at 7216 and the 1st wave of the next phase of uptrend ended at 7700, followed by an "abc", minor correction at 7442 and the 3rd wave is unfolding from 7442.

Direction in both remains same - UP.

We'll adjust the label, reject one of them as the prices unfold and guide us - "Following".

Prabhanshu Raman said...

Tisco: 5 waves done from 517 to 560. Currently c leg of abc correction going on. If a=c, then c might end at 540.50 which is between 23.6-38% retracement values

Idbi may get support near 106.50 to tgt 110+
Rcom may form +ww at 143.70 tgting 150 and then 161
Good luck

marina s rao said...

Day Low : 7677.30 Day High : 7723.35 Range : 46 Points Day Pivot : 7634 Hr. Pivot : 7716

Currently well above Day Pivot @ 7634.

NS hovering around 7715.

NS in BAH mode in Hr. T/F & in Day T/F.

Weak below Hr. Ema @7698.

30 Min. RSI in over bought zone.

BAH = Buy And Hold.

Rajesh Singh said...

Thank You Ilangoji for clarification

Raghavendra said...

Dear Ilango sir, Shriram

Does BN hrly chart from morning look like a Bull flag . Please share your view.

Ilango said...

@ Raghavendra,

It does look like a Bull flag, as long it stays above 15460.

Prabhanshu Raman said...

Raghavendra, can you please suggest your view on icici for short term perspective. I feel last leg of upmove is on

Ilango said...

Most of you are intelligent enough to understand Technical analysis; it is during application of the same which needs "better adaptability during corrective phases":

Jesse Livermore:-
"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

Raghavendra said...

Thanks Ilango sir

BN also continues to close above hhema since morning and the last leader HDFC is leading it now.
SBI continued in a shallow correction. ICICI turned up on Monday.

@ Prabhanshu,

Looking at larger picture.
ICICI closed above MHEMA - May closing.
Underwent corrections ( zig zag ) from May 16th in Week and Day time frames for the whole month of June.
Prices closed above June MHEMA on last day of the Month.
Summary : Larger trend remained UP while corrections done in lower TF.

Short term :
Prices closed above WLEMA on Friday and the rise started with a faster retracement of last falling leg - closed above DHEMA on Tuesday and now looking to capture Week High EMA.

A new leg is in progress and EW counts looks similar to Ilango sir's BN count published at end of day everyday.

Buy on dips all the way .

Raghavendra said...

@ Prabhanshu,

Disc : I dont trade stocks and buy from an investing perspective.

Infact bought ICICI , HDFC , SBIN and BOI last week from an investing perspective.

Prabhanshu Raman said...

Thanks Raghavendra for detailed reply.

marina s rao said...

Day Low : 7677.30 Day High : 7732.40 Range : 55 Points Day Pivot : 7634 Hr. Pivot : 7721

Currently well above Day Pivot @ 7634.

NS hovering around 7725.

NS in BAH mode in Hr. T/F & in Day T/F.

Weak below Hr. Ema @7707.

30 Min. RSI in over bought zone.

BAH = Buy And Hold.

herry said...

dearv friends now tcs is ..?

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