Tuesday, July 1, 2014

Nifty Pre-Market View.

FII's have bought big after the consolidation with in the major uptrend.
Prices, in the short term, have closed above two key ST averages.
"Consolidation" is completed in a bull flag & prices have broken out tentatively;
The ST direction is "biased UP", as long as prices stay above 7582 & close above these two key averages (21 or 34 hr smas).
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.
Aggressively Holding above 7582(3-Hr low), Conservatively Holding above 7554(DEma), uptrend continues....
Minor resistances would be at the earlier high of 7663-79.

13 comments:

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Viji said...

Good morning Ilangoji,

You mentioned on June 30th

"If holds 7595, approx., a final push towards R3-7623+ is possible.
June 30, 2014 at 2:37 PM"

Nifty went to 7623.5 at 3.10 PM and then started going down.

It is really amazing to see the market dancing to masters tunes. Thank you very much for your selfless service.

Prabhanshu Raman said...

GM Sir and Friends.
Expecting good moves in RCOM, Bhel and Tisco today. These stocks made Bullish Harami Pattern yday on day tf.

SKS said...

@ Illango Sir

JNSAR must be UP sir, Pl. correct

Suraj said...

Good Morning Ilango Sir and Friends

Prakash said...

gudmorning master and all frnds

Prabhanshu Raman said...

Sir,
can we say now that waves are sub dividing from 7581?

Ganesh IC said...

Good Morning Sir & JN Family

Ilango said...

@ Prabhanshu Raman,

If Nifty holds 7620, I would consider it as "waves sub-dividing" to move past 7666 or 7700+

Unknown said...

Gudmorning Sir, The shorts on TCS held good. wud u b kind enuf 2 give me a view on this stock for a downside target please. As per me: and I stand 2 b corrected Sir, 10Sma is around 2315.

Magesh Waran said...

goodmorning illango sir and blogmets

marina s rao said...

gmbolgomates &pacelife

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