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.
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:
Good Morning Ilangosir
GM Master & Blogmates.
Wish all Long life, health, peace & Wealth.
Namaste Ilango Sir and blog friends
LV
Sir
Daily date must be 02/07 & 03/07
Good Morning Dear Sir, Bros. & Sis's,
Have A Happy Day.
Good Morning Sir & JN Family
Sir
Retrace from 7709?
@ cooldent,
Presently from 7719 which is the 3rd from 7709.
gudmorning master and all frnds
Good morning illango sir and blog mets
GOOD MORNING BLOGMATES and Ilango SIR
GM Master & JN Family,
Looks like the near strike OTM writers dont wanna take any risk whatsoever !
Have a gr8 trading day
Intraday weak below "7715", 61.8% of rise from 7690 to 7755.
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
hello sir & friends
nifty update on blog
Day Low @ 7708.65.
Will Day pivot @ 7712 provide support ?
GM Sir and Friends.
Btw, Bull flag's 1st tgt is achieved at 7755
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
New Post Done.
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