Thursday, July 31, 2014

Nifty Pre-Market View.

FII's have started to sell, after 9 days of buying- a resumption of consolidation within 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", as long as prices stay above 7760 & 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 7760(21 Hr Sma), Conservatively Holding above 7743(2 Hr-Low & 61.8% of last rise), uptrend continues....
Aggressively Holding below 7760, correction could resume....
(VIX range for the day is 7735-7835.)


12 comments:

Unknown said...

To the ONE Man who makes like soo much better,soo much more beautiful. The JONATHAN LIVINGSTON SEAGULL in our lives.For his unrellentness thriving,for being the patient teacher 2 the many Fletcher Seagulls amongst us. For having borne the criticism of the Flock, and yet for having made us see what he has always BELIEVED IN.
Ram Kumar Illangovan. A verryyy verrryyy Big THANKYOU

ITradeForProfit Daily said...

@Master,

Conservatively Holding below 7743(2 Hr-Low & 61.8% of last rise), uptrend continues....

Should be

Conservatively Holding above 7743(2 Hr-Low & 61.8% of last rise), uptrend continues....

D.S.SASAN said...

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

Have A Happy Settlement Day.

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Guru Krish (Trading Nirvana) said...

Very Good Morning Master and friends.. have a great day..

Master with your permission --- Lets have Expiry day close contest for July-2014

9.00-14.30 - Start and end time of the contest
Close number - Single close number - no range is allowed
Reason - Should be with a reason for choosing the particular number.

Cheers

DNSHUKLA said...

Good Mng Sir and Friends.

Magesh Waran said...

goodmorning illango sir & blogmets

Ganesh IC said...

Good Morning Sir & JN Family

Rasendra Zala said...

Good Morning to Ilango Sir and Friends.

Prakash said...

gudmorning master and all frnds

Suraj said...

Good Morning Ilango Sir and Friends

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