Friday, August 1, 2014

Nifty Pre-Market View.

FII's have started to sell for the last 2 days, after 9 days of buying- a resumption of consolidation within the major uptrend. 
Prices, in the short term, have closed below the two key ST averages. (As long as prices close below these, technicals remain weak; only a close/sustaining above it would reverse the ST trend
The ST direction is "biased DOWN", as long as prices stay below 7768 & 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 7755(DEma), Conservatively Holding below 7768(Wk.Pivot), downtrend continues....
Aggressively Holding above 7641-61, mild strength possible....
"Broadening top"/ expanding triangle's last big downmove is unfolding...confirmed with a break of 7760.


23 comments:

Ilango said...

Chart & TT updated..

vksoni said...

Good morning ilango sir and blogmates..

Bharat Kumar said...

@ Ilango Sir - In a broadening top pattern, what could be the expected targets?

SUBASH M said...

good morning sir...

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Ilango said...

http://tradeinniftyonly.blogspot.in/search/label/broadening%20tops

D.S.SASAN said...

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

Have A Happy Day.

JANSAR devotees Gainers.

Prabhanshu Raman said...

Sir, can we that in given link, icici is also forming broadening top in 60 mins chart? Please suggest.

http://prntscr.com/48du0c

Guru Krish (Trading Nirvana) said...

Good morning Master and Friends... have a great day..

Looks like, its opening exactly near S2... nice move.. :)

Unknown said...

Gudmornin Sir n friends. 7660 is the 25SMA on NS

Unknown said...

NS cud b highly O/S at this level or so on an intraday basis

DNSHUKLA said...

Good Mng Sir and Friends.

sudharsan said...

Good Morning Master and Friends

Suraj said...

Good Morning Ilango Sir and Friends,

Is it true that according to new ruling, if we turnover in F&O is more than 1 crore, then F&O trades would be considere as business and account books have to be maintained. These books would have to be audited also. One CA told me so.
If a person with a margin money of rs 40,000 buys and sell 25 nifty in a year, his turnover would cross 1 crore. Anyone having information about the new ruling, please comment.

sudharsan said...

Master with your Permission i am sharing a link for Broadening top formation...
http://thepatternsite.com/bt.html

Num Char said...

Good morning Sir and Jn Team!!


Small island near 7697 -7705 .

bb said...

Tisco is on rampage - Prabhanshu Raman any view?

Ilango said...

Holding below 7680, it could make a new low to complete a 5 from 7750.

Ganesh IC said...

Good Morning Sir & JN Family

Prabhanshu Raman said...

bear flag in 5 min spot....break below 7650 for T1 7630 and T2 7550, SL 7661 post trigger

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