Monday, July 21, 2014

Nifty Pre-Market View.

FII's have been buying again for the last 3 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP"(But OverBought in Hour T/f & almost in Day T/f), as long as prices stay above 7613-7616 & 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 7652(2-Hr Low), Conservatively Holding above 7613(DEma), rally continues....
Aggressively Holding below 7707(73.6%), Conservatively Holding below 7732(80%), correction could resume....
(Staying above/ below the rising 34 hr sma, the bull/bear trend would continue/ resume...)


15 comments:

Prabhanshu Raman said...

GM Sir and Friends,
Sir, I have 1 query on -div. If we observe -ve div in hour chart but not in day chart (but OB). What shd be our point of view. How to know its strength or weakness.
I am talking abt idfc.
Please suggest

Prabhanshu Raman said...

I think till now it shows strength only as it is closing above dhema, d10ema, hrema.
But what should we do with -ve div in hr chart?

D.S.SASAN said...

Good Morning Dear Sir, Bros. & Sis's,

Have A Happy Day.

@stbstb : Please be present here & continue to give your view here but you may keep silence for 10 years in some other area.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

marina s rao said...

GM Master & Blogmates.

Wish all Long life, Health, Peace & Wealth.

Magesh Waran said...

good morning illango sir & blogmets

Stockathon said...

Good Morning Sir & Friends...

Ganesh IC said...

Good Morning Sir & JN Family

Trader Junkie said...

Good Morning Sir - 10 years of silence and hard-work - very true. Trying to practice that since the beginning of this year with almost no posts or "wing-flutter" or any calls or trades. Agree with you fully on that, that others should stop trying to distract the patient and diligent students.

Ilango said...

@ Prabhanshu Raman,

At such situations, one could sell on rises closer to R1/R2 of the day, thus limiting the risks.

If in (v)th, it works quite well; if in (iii), the risk is high.

Ilango said...

@ Trader Junkie,

10 Years of silence need not be 10 years of disappearance.

10 years of silence is "silently working in our chosen field without getting affected by the end-results", good or bad.

Beatles, the most famous rock band, worked in various night clubs in Germany before they mastered the art of delivering hits after hits.

Bill Gates worked at the university's computer for more than 10,000 hours before the critical opportunity showed up and he was ready by then to take advantage of it.

Ours is to remain focused and steadfastly work on the subject, the rest is taken care by Him, all in good time.

Trader Junkie said...

indeed Master :) indeed...

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