Thursday, September 4, 2014

Nifty Intraday Update-II


Ilango said...

@ Raghavendra,

There is a small cluster support at 15925-945 and if prices hold above it, the vth could unfold.

Yes, it looks like a 5 from 16176, the 80% point of the first fall from 16209 to 16048.

Isn't this retrace wonderful for the patient trader.

Ashutosh Agarwal said...

When i look at nse chart on nse site, it looks like like double bottom getting broken. Or it is a triple bottom.

S N said...


If 5th could unfold for Bank nifty, will it not be also be a parellel for Nifty ? Or could it be that Nifty may be lagging behind, since Nifty covers much more stocks including IT stocks and Bank nifty is purely Banking stocks ? Also, can it be a clue for Nifty to commence its 5th wave soon ? Would appreciate your views. Regards


Ilango said...

@ S N,

We are talking of 5 waves from 16176 for BN. But it is 3 waves from 16209.

But anything below 15925, it puts a question mark on 3 wave structure.

Vaishnav Shukla said...

Dear Sir
From 7939 to 8142 is 3rd so 4th will be .382X3rd... Approx 8064.. So 5th can start from here... Sir pl correct if wrong..

cahauhan m said...

Vaishnav Shukla
your assumption is right, i am going with u,

Ilango said...

@ Vaishnav Shukla,

Only market corrects "anyone" if wrong.

Correctives could only be "guessed"; a good calculated guess is like a "low-risk-high-return strategy" and if it fails, it was a low risk one and hence, damage is less; But if it works, it is rewarding.

Vaishnav Shukla said...

Dear Sir
For learning I asked... One ques is more... Why the 2nd wave doesnt retrace .618 of 1st wave in recent wave counts as it has been taught in EW books... Is there any other rule.. Pl guide..

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 1:00PM, Pivot-8144, S1-8114, S2-8088, VWAP-8108

The PE writers doesn't seem disturbed at all with downside and have added huge from 8100-7600 Level, with 8000PE above 70 Lacs, CE writers are stunned, don't know exactly what to do…

Thanks & Regards

Ilango said...

@ Vaishnav Shukla,

There are no rules on how much "any retracement should be"; hence, the saying - "Market can do anything".

But there are clues abound in the market's behaviour and from certain studies/ price supports & resistances created over a period of time in various t/f that one could anticipate market to behave in a certain way. And these guide a trader.

There is no certainity in the market but only possibilities.

Bhavir said...

No problem sir. Let me attempt to study JP and share my observations with the group.

S N said...


Thanks for your wave clarification..

If free, pl comment on my trade.

I have gone long @ bank nifty @15950 spot with day low 15920 as stop loss. Target 61.8 % of the last fall, from 16176 to 15925 viz, 16055.

Hope this is line with our views on 5th wave.



Raghavendra said...

Thanks Ilango sir...

Missed the move in BN while prices moved into the zone as i was traveling to work.

Now if a low below 15925 happens , Can we look at a larger 5 from 16209 ?

Unknown said...

80 5 retrace of the entire rise on BNF from 15973 - 16255 is at 16029. if this holds minor resistences at 16052 - 16078. above this Hourly 5HEMA at 16120 apprx.beyond this no resistence

v k b said...

@ bhavir
Hos: Hearing loan default at JP group.Icici has the highest exposure.Heard all salaries above ₹40K are not paid.
Moneycontrol News : Jaypee Infra Ventures sells 1.34cr shares of JP Associates - Moneycontrol News : Jaypee Infra Ventures sells 1.34cr shares of JP Associates

Full News:

Unknown said...

dat was 80% n not 80 5

Raghavendra said...

Yes sir - The retrace strategy works really well.

My shortcoming and learning potential is to identify the "correct" last retrace point on my own.

hardik bhawsar said...

By taking help of your blog and Epic Research, I feel relaxed while trading in stock market.

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