Tuesday, August 5, 2014

Nifty Intraday update-III


31 comments:

raghava said...

Master, Any New high Possible?

jittery said...

Prabhanshu Sir,

+WW trigerred in Nifty & Tata Steel

Ilango said...

@ raghava,

Prices have retraced above "7681" of last fall from 7707 to 7638.

Prices have closed above the two key averages, 21 & 34 Hr sma-7668 & 7704 and thus strength has returned in the ST.

Now holding above 7660, if EOD generates a "Buy" with a close above DEma-7697, new high possibility emerges.

vksoni said...

what a rise.....wow

Prabhanshu Raman said...

Jittery, +ww again triggered in nifty
Ts triangle broke out on upside

Ilango said...

@ vksoni,

I'm quite happy for you.

ITradeForProfit Daily said...

Huge expansion in NF premium coupled with a rise of 100 points in NS from its day low.

vksoni said...

Thank you sir,
Thanks

raghava said...

Thank you Master.

jittery said...

Thank You Prabhanshu

ITradeForProfit Daily said...

7770 can come today if Bulls try for dev DHEMA +20

ITradeForProfit Daily said...

DEV DHEMA now 7747 high made 7751

Sonu said...

OI resistance at 7800.
80% of fall from 7799 to 7594 comes at 7758.
VIX declining with NS moving higher.

Good R:R trade opportunity with SL at 7758 spot.

Ilango said...

7718 7708 ... is 38%-50% retrace of the last rise from …… 7665 to 7751

80% is - 7682

If strength to return again, it should be around 7718 7708

Weakness gets confirmed Below 7708 OR 7682

rohit jain said...

master 1 question if we have shorts shall we exit shorts

kizar khan said...

Senior and
Master , what is the new high possible if breaks .....

Ilango said...

3.00PM TT & Chart Updated.

Ilango said...

@ rohit jain,

Going by the ST trend, prices though broke below Pivots-7661-67 & 20 dsma-7665, they have sustained in the second session.

Now prices are trading comfortably above DEma-7697.

Day Lead indicator is turning up from oversold zone.

"Shorts" are not justified.

Weakness would be only below "7695 or 7680".

Okay said...

@Master,
Among other options, the (iii) of v still exists considering the current upmove. Or
The preferred is that this is the retracement for 7837 to 7595.

jittery said...

Prabhanshu Sir,

Thanks for Tata Steel

rashmi said...

Soniji,good estimate of the markets!!

cooldent said...

Sir

Tomorrows BN JNSAR?

herry said...

DEAR ILANGO SIR 1 VIWE IS POSIBAL
7841-7593 IS 5th (A)WAVE AND ABC 7758 IS 80% (B) .....?

Ilango said...

@ Okay,

The chart shows, a lot of 1,2,(1),(2) and the first sign of 3 & 4, (3) & (4) have started to appear after crossing 7400 in the "line chart" which is based on "Closes".

Generally, the lower t/f (iv)th wave offers support and here it is 7450 on close basis. This does not mean, market can not go further down. It just means that that zone is the first & more reliable support.

There are corrections where market has done less than 38% too.

We follow these corrections with the help of EW sub-waves, technical charts, candle patterns & TT and they sure would offer vital clues.

We'll look forward to tomorrow's event with 10 dsma as a key resistance on the upside and DLEma as the key pivot, breaking the same, downside pressure could emerge.. It is a trader's market once you have started to see 3's & 4's.

It is a trader's market once you have started to see 3's & 4's.

It is a trader's market once you have started to see 3's & 4's.

Ilango said...

@ Okay,

The chart - mentioned was posted on 4thAug Pre-Mkt view.

Ilango said...

@ herry ,

It is a trader's market once you have started to see 3's & 4's.

sanjay ghuriya said...

dear illango sir,
i want to lern this charts

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