Thursday, July 3, 2014

Nifty Pre-Market View.

FII's have been buying big(last 3 days) after the consolidation with in the major uptrend.
Prices, in the short term, have been closing above two key ST averages.
"Consolidation"completed in a bull flag, prices broke out & have paused & the next upmove started with another gap-up & sustaining;
The ST direction is "biased UP", as long as prices stay above 7690-7719 & 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 7707(3-Hr low), Conservatively Holding above 7629(DEma), uptrend continues....
(iii)rd wave has started from 7623 within which another sub-wave started from 7690. Any kind of 3rd wave should be followed with patience and following its sub-waves could mislead. And this could be mitigated with inputs from other studies such as TA/ TT/ OI.

19 comments:

Bullish Cartel said...

Good Morning Ilangosir

marina s rao said...

GM Master & Blogmates.

Wish all Long life, health, peace & Wealth.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

SKS said...

Sir

Daily date must be 02/07 & 03/07

D.S.SASAN said...

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

Have A Happy Day.

Ganesh IC said...

Good Morning Sir & JN Family

cooldent said...

Sir

Retrace from 7709?

Ilango said...

@ cooldent,

Presently from 7719 which is the 3rd from 7709.

Prakash said...

gudmorning master and all frnds

Magesh Waran said...

Good morning illango sir and blog mets

SAM said...

GOOD MORNING BLOGMATES and Ilango SIR

shriram said...

GM Master & JN Family,

Looks like the near strike OTM writers dont wanna take any risk whatsoever !

Have a gr8 trading day

Ilango said...

Intraday weak below "7715", 61.8% of rise from 7690 to 7755.

Ilango said...

7689 7673 ... is 50%-61.8% retrace of the last rise from …… 7623 to 7755

80% is - 7649

If strength to return again, it should be around 7689 7673

Weakness gets confirmed Below 7673 OR 7649

jai bhole said...

hello sir & friends


nifty update on blog

marina s rao said...

Day Low @ 7708.65.

Will Day pivot @ 7712 provide support ?

Prabhanshu Raman said...

GM Sir and Friends.

Btw, Bull flag's 1st tgt is achieved at 7755

Forum Login said...

Good Morning ilango Sir and Blog Mates.

Does anyone track SAIL ? Any negations or suggestions about the below view is much appreciated. Just trying to learn. The correction as part of 3.4 seems to be over @ 91.75 and 3.5th is on.

From the weekily charts of SAIL ,
1st Wave - > 37.60 - 74.90 ( 04/08/2013 - 12/29/2013)

2nd wave - > 74.90 - 54.05 ( 12/29/2013 - 28/02/2014)

3rd wave On Going from 54.05 since 28/02/2014

3.1 - 54.05 -> 76.10
3.2 - 76.10 -> 66.35
3.3 - 65.10 -> 112.95
3.4 - 112.95 -> 91.75
3.5 - 91.75 ~ Going on Now

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