Thursday, September 18, 2014

Nifty Intraday Update-I


Sonu said...

I am no expert but it seems this upmove will sustain.More highs on the cards. Highest liquidation in 8000CE followed by 8100CE and 8200CE:

and PCR above 1.02 as mentioned yesterday.

With RSI in OS zone, it would take guts of steel to short this market.

gs said...

thanks master
thanks sonu for quick reply

anmpatel said...

good morning
sir any reason for change in "i" from 8030 to 8057? as 5 sub-waves from 8180 to 8057, i and iv are overlapping.

Ilango said...

The pre-market view Trade table gives "well researched numbers for supports & resistances".

It was pointed out to those who ignore them.

After showing the support level for the day, only a believer would have ventured to take a trade on them. Non-believer needs a lot of prodding.

Our attempt here is to suggest that "there is a method to market's madness".

We, deliberately, stated that in pre-market view that:

Market is not a perfect place. You make your plan but allow for few whipsaws.

If you know this that I'm not here to spoon feed your trades, you have nothing to complain.

And one who complains & whines ends up whimpering.....

Know this: Market is quite "unforgiving" to the "unprepared".

Preparedness: Even if you were expecting the "v"th wave towards 7907, you must maintain the last fall retrace for the fall from "7981 to 7940" and when it retraces past 61.8%(7965), aggressively reverse or prepare yourself to reverse at 80%(7973).

Nalla pozhudai yellaam thoongi kalithavargal......
( people who Doze away the good moments...???)

ITradeForProfit Daily said...


8053 is 50% or retrace from 8180 to 7925.

Will it not be prudent to short here with a SL at 8083 (62%) or 8129(80%) ?

Num Char said...


"8057 will negate the 5 wave structure " not able to place this comment in right context.

Another thought in current context till what level B wave can be in contest.?

Num Char said...

ahhh !! oops my bad got 8057 context .

2nd question still valid :)

Ilango said...

@ ITradeForProfit Daily,

Day TA seem to suggest a reversal possibility...while week has still not given a sell or weakness with a close below WHEma.

Oversold hour has just reversed. Though, there could be intraday corrections. Only the EOD would confirm a day reversal. But so far prices suggest of such a reversal.

Ilango said...

Let us also remember that previous lows of 8057++ upto 8100 could act as a ST resistances and once this part is cleared, momentum would return.

For the week, a day left, focus on WHEma.

D Anand said...

Today SPOT Nifty has started @ 0.056%(7939.94)close to 7939.70 and teached 2.236%(8057.02) close to 8058.50 which is high till now based on previous day HIGH LOW Fibonacci retracement

Ilango said...

@ Num Char,

Since the fall from 8180 to 7925 was of 3 sub-waves and if the rise is "B" wave, if not the 5th, it could retrace any % and more too as in irregular flat.

Following is possible with "Last fall/ rise retraces".

Hemant Jadhav said...

Dear readers
for the Global cues I read following blog

gs said...

grinder starts...for today

Sonu said...

PCR below 1 would make it weak again. Till then only strength

Num Char said...

Thanks sir !!

One more query to understand the wave form better, how we plot the move from low of 7925 . It doesn't look like LD or it looks like.....not sure , truncated 5 from 8114 can be a valid form or ...?
When free add some thoughts .

Vaishnav Shukla said...

Dear Sir
38.2% retracement of 3rd comes as 7935 -- possible target of 4; buying here was really a good idea as oversold RSI in Hr chart..
Should we always follow & take trade according to standard Fibo retracement mentioned in books..

Ilango said...

@ Num Char,

As stated earlier, BN confirmed the vth with a new low today while Nifty made the truncated low from 7981 to 7940.

It is also likely that 8180 to 7925 is a simple "abc" and from 7925, a small "a/ i" and an elaborate "b/ ii" played out till 7940...

In shorter t/f , many such possibilities exist..Combine them with classic technical analysis, the observations take a tremendous change.

Nikunj Dharsandiya said...

can we consider 8180 to 7925 fall as 5 wave?

Prithvi Raulji said...


Can we say that 5/20 sma cross below ,now price trending above them ,a fast rise setup??

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-7989, R2-8037, R3-8085, VWAP-8041

Bears in a state of Shock and Awe, the oversold technicals and huge buying within the first 30 mins saw the index comfortably above 8000, The Index is back to Buy the Dips…

Thanks & Regards

shriram said...

GM Master & JN Family,

Just see the Range of the candle :-)

Started < DloEMA & now trading > Dev.DhiEMA .. hi %prob impulse !

Raman Kapoor said...

bhai log, apne ko double century wali feeling aa reli hai !!

Arpit S said...

Sir, could this be a typical move to trap buyers.. And from 8082 or 8129 an equally sharp fall could come. this kind of volatility is witnessed near tops..isnt it?

S N said...


I have the same query like Arpits. ..Recently, similar trapping happened and we lost the entrie days gains the same day. Is there any indication for this from our wave study. Kindly enlighten.



Prithvi Raulji said...

@Raman Kapoor,

Me too expect that in 2 days nifty can touch 8266 or 8384 with FF5th

sudharsan said...

Good Morning Master and Friends.... Nifty @ JNSAR !!!!!!!!

marina s rao said...

Day Low : 7939.70 Day High : 8072.55 Range : 133 Points Day Pivot : 7968 Hr. Pivot : 8011

NS Above OK ( Octa Kilo = 8000).

Currently hovering around 8070.

NS a Century above Day Pivot @ 7968 displaying bullish trend.

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

Strength COntinues above Hr. Hema @ 8003.

Weakness returns below Hr. Pivot @ 8011.

BAH = Buy And Hold

Arpit S said...

@ SN, getting a strong feeling that this is just a trap for bulls today. Also if 8100 Future crossed, one more big swing of 35-40 points could come fast as there is a gap there.But what after that is a big question..Lets see..

prakashbkc said...

GM Master,

11 am TT update kindly

nirtos said...

Is there any blog who is following JNSAR trade. I want to trade JNSAR from today.

Sathyan.R said...

Shall we assume that wave 4 completed @ 7925 and now heading towards 7925+ 419 = 8344 = wave 5

marina s rao said...

Followers of JNSAR :

Day High : 8077.15 NS trading around TODAY'S JNSAR @ 8071.

Reverse SHORT trades entered on 11 Sep '14 to LONGs with SL when NS @ 8041 or below.

Time to consider taking LONGs with strict SL of NS @ 8041.

NS currently hovering around 8065.

Caution : As JNSAR is hit just now, whipsaws are possible. Strict SL is a must for all trades.

Stockathon said...

@ nirtos

If you want to trade JNSAR then follow "Just Nifty" blog only!

Today's JNSAR is at 8071, you can go Long above it and Reverse below 8041.

Sathyan.R said...


Nothing is safer than this blog

nirtos said...

Thank, I daily visit 15-20 times this blog. I was just asking anybody who is following JNSAR so I can start with. As I was confused with 20 point filter as I was to enter ab 8071 or ab 8071+20=8091

Akshay said...

Better enter at 8091-8095.
Or enter at market closing if above 8077.

STOCK4SURE said...

62%retracement of 8180-7925 is 8083

abv that nos. to keep watch are 8119-8180 and 8227

Prakash Tamilnadu said...

JNSAR hit after a intraday run of about 100 no need to worry a EOD close above 8054 enough for stay long.

hari said...

Master, if the fall from 8180 to 7925 is abc, Banknifty showed clear 5 wave down, could it be C wave ?
Pl clarify

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