Wednesday, July 9, 2014

Nifty Pre-Market View.

FII's have been buying for the last 7 days after the consolidation within the major uptrend.
Prices, however in the short term, have closed below two key ST averages. (As long as prices close below these, technicals remain weak; after a close below it, "follow up" is important; if not, trend would reassert)
The ST direction is "biased Down", as long as prices stay below 7711-7726 & close below 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 below 7689(DEma), Conservatively Holding below 7716(2-Hr high), downtrend continues....
Hour lower channel support comes around 7575-85 zone, below which 7517-32, Month pivot-last wk low.

23 comments:

Adrian Jose said...

Good Morning Ilango Sir

marina s rao said...

GM All.

Wish all Long Life, Health, peace and Wealth.

Manish said...

GM master and all friends...

Ganesh IC said...

Good Morning Sir & JN Family

Rasendra Zala said...

Good Morning to Ilango Sir and Friends.

DNSHUKLA said...

Good Mng Sir and Friends.

shreya puneeth said...

what is the expectation today in nifty +350 or -350?

Guru Krishnan said...

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

Mid point moved to 7661 with strong bearish bias... have a great day.. :)

manas trivedi said...

Not +/_ 350, It will be near -50 to + 30 only,
Tmrw, budget will be deciding day with +/_ 150-200 points

manas trivedi said...

GM illango sir, krishnan sir, Shriram Sir and STBSTB Sir...

manas trivedi said...

Going to take a dip till 7610.... with SL of day's high

Raman Kapoor said...

Dear Sir,

Should we not use 5-EMA of MACD to calculate its trigger instead of 5-SMA. Which one is more reliable?

Thanks

Hitendra said...

BN begins its southward journey

Num Char said...

Good Morning Sir and JN Team

Sir ,

One observation , the move from 5118 and then another move from 5933 had lots of impulse . The move from 7216 is kind of laggard and not reflects the degree of impulse which we saw in the previous moves . Ideally being in 3rd wave of larger degree impulse should have been more , even banks has been consolidating after 16th May .
Is it possible that the current move from 7216 can be still a B wave ?
Just thoughts based on wave personality .

manas trivedi said...

HA HA.... 7610 Achieved

Prabhanshu Raman said...

GM Sir and Friends.

Chart Analysis - RCOM and TISCO: Click Here

Ilango said...

@ Raman Kapoor,

Why not? Check out the 5-ema trigger's performance. S.Macd itself is a lagging indicator but a reliable one. But having a faster trigger could improve the performance & add confidence. It is worth exploring.

Raman Kapoor said...
This comment has been removed by the author.
marina s rao said...

Day Low : 7551.65 Day High : 7646.25 Range : 95 Points Day Pivot : 7676 Hr. Pivot : 7631

Currently well below Day Pivot @ 7676 and Hr. Pivot @ 7631.

NS below D JNSAR @7674.

NS in SAH mode in Hr. T/F & in Day T/F.

Weak till below D Pivot @7676.

For aggressive trades cluster Support @ 7543-47.

SAH = Sell And Hold.

Guru Krishnan said...

Bullish to Neutral - PCR 0.84 MID POINT 7659 ..

rashmi said...

Now hovering around hourly pivot 7631!

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