Wednesday, August 20, 2014

Nifty Intraday Update-I


sanjay maheshwari said...
This comment has been removed by the author.
Ilango said...

Nifty moved into the resistance zone at open at 7917-27 - High 7923.

Nifty reached yesterday's low at 7881.

The swift opening fall of 42 points is being retraced presently.

Two trade possibilities exist for day traders, if not sold earlier & part booked:-

1. Counter trend trade:
7902 7907 ... is 50%-61.8% retrace of the last fall from …… 7923 to 7881

80% is - 7915

If weakness is to return, it should be around 7902 7907

Strength gets confirmed above 7907 OR 7915

2. With the trend trade:

Buy on dips around pre-Mkt's support zone of 7859-68 with a small SL.
(21 Hr Sma is likely to be tested today...)

venkateswara reddy bhimavarapu said...

dear all,
I want
EW theory E book please suggest


jai bhole said...

good morning

Ilango sir and blogmates

jai bhole

Sonu said...

@ venkateswara reddy bhimavarapu
Master's writeups are best to learn EW.
If you want book, then go for Pretcher

Ilango said...

@ venkateswara reddy bhimavarapu ,

I have sent the e-book on EW to "JustNifty group".

Social Media Earthworm said...
This comment has been removed by the author.
Roshan Baheti said...

Dear Illango Sir, Can you please make me a member of your "just nifty group". I also want to have that E-book to learn. Thanks for your support and superb analysis.

Unknown said...

Gudmornin Sir n mates. yesterday SBIN touched its upper bolinger @ 2460. Has broken n is below its 10 n 25 SMA"s. The lower Bolinger band is at 2352. Wonder what may happen if it does test its Lower Bolinger band

Vaishnav Shukla said...

Dear Sonu
Can u pl send Elliott ebook to

Prabhanshu Raman said...

Sir, for existing longs what shd be the sl, 21hrsma?

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-7907, S1-7891, S2-7872, VWAP-7895

Another consolidation day with the boundaries till Expiry marked at 7750-8000, Intra is a buy on Dips till the lows of the last 2 days are held….

Thanks & Regards

Prithvi Raulji said...


BN 14700 :(

Zooming 16000++++

Unknown said...

I get ur point Prithvi.

Unknown said...

I do only Intraday trades Prithvi. was suggestin dat figure only for dat specific day Boss

Roshan Baheti said...
This comment has been removed by the author.
Roshan Baheti said...

Thanks a Ton Ilango Sir for making me a member of your group. I would like to make a small contribution from my side towards this website. Will let you know the cheque details soon.

Raghavendra said...

For TT followers :

11 AM - both Nifty and BN closed below hrlema. Time to test the DHEMA range during the day as long as hrly closing continues to be below Hrlema.

Ilango said...

@ Prabhanshu Raman,

As long as 34 Hr sma is protected, uptrend continues.

If prices, after breaking the hour channel, fails to move back into the channel.....
If prices, by EOD, closes below DHEma....
then "trading mode" comes into play between HEma to LEma..

varun kumar said...

Dear sir, why my comments are not visible. ?

Prabhanshu Raman said...

Thank you Sir. Currently, 12 noon prices is trading below the channel (channel bottom is 7872). To come back in the channel it has to close above 7882 at 12noon.
If thus happens, then we shd consider this correction as 4th wave from 7540?

Ilango said...

@ varun kumar ,

No comments of yours has gone to SPAM. It must be to do with the browser problem. I have faced similar issues earlier. As I press the "Publish" button, all my articulated comments have simply disappeared, frustrating me a lot.

Copy(cntrl + c) your comments before pressing "Publish" button. If faced with problems, try another browser.

hari said...

Master, Can we use this 21 & 34 hr sma for stocks trading too ? Pl reply

Ilango said...

@ hari ,

Every instrument, depending on the volume, would adhere to certain technical rhythm.

Find the one that suits a stock - it could be 21 or 34 period or some other number. It is easy to find by simply plotting it on the chart to see its efficiency over different periods of time. Accept few whipsaws. Fewer the better.

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