Alternatively, if 4885 is broken decisively, it may fall sharper.
This is the larger channel worth keeping in mind for some time to come. All the other channels are of "smaller time frame kinds" and accordingly will have lesser value or for short duration only.
Follow this "Tech. table" consistently even if it sounds "boring" often but it gives you some very vital levels and clues to the "strength & weakness" of the market.Price is everything...but how do you decipher it ...
This is "one simple way"..there could be others.
Don't miss these "EOD analysis" as they are unbiased and based purely on "our market's price action for the day". For validity, check on Friday's EOD analysis - the first target suggested based on "quantitative method" was "5026".
14 comments:
Sir,
Mail. Contains write up on the system under "Read Me" sheet.
O/o N-50 Equity 4 remain trend "up",12 in "not known" and 23 "Down".
o/0 43 stock futures 1 is trend "up"(RNRL),5 "not known" and 37 "Down".
The study looks similar to the last major correction day - which allowed a minor pull back due to OS status in many - you are clear that OS to be ignored under such strong trend. May be a large gap down, minor recovery then my friend RV will throw oil on Humpty Dumpty's path.
Doctor and PS - Have a look at the Read Me and share your queries if it requires further clarification.
gravestone doji on daily charts ?. should be a big day tmrrw
Hello ilango sir
Vanakkam.
I am silent reader of ur blog. I post rarely. Good
analysis. You are master. I am learning from you. thanks.
In the EOD analysis today, You mentioned like
4844 + 182 = 5026 --> target achieved
4844 + 226 = 5070 ==> Next pull back. So you are expecting
market to take upto 4844 - 4850 levels ?
Then a bounce to 5070, then a big trend to take 4675, Am I right
Hi all
I have uploaded a Stock Screener based on NR7 setup just now.Link below
http://financeandtradingmadeeasy.blogspot.com/2010/05/stock-future-scanner-nr7-setup-download.html
@Raja Paji
Will this recommended "desi nuskha" by a quack be of any use in your "Vix action 50 Pharmacy"?
Cheers
thanks rg sir,
had a glance of it. will it read in detail .
FII sell 995
DII buy 1107
@ rg
it seems retail s catching monkeys..hope u remember
:)
Dear All
A few interesting reads...I hope you will find them useful...
How is the stock market performing?;
http://www.chartoftheday.com/20100521.htm
------------------------------------------
Every 50% loss starts as a 10% loss;
http://markminerviniblog.blogspot.com/2010/05/great-advantage-of-wall-street.html
-------------------------------------------
Differences Between Trading Long and Short;
http://www.chartsandcoffee.com/2010/05/differences-between-trading-long-and-short/
--------------------------------------------
how to build a love of learning;
http://www.bripblap.com/2010/how-to-build-a-love-of-learning/
--------------------------------------------
9 Proven Ways To Charge Up Your Motivation;
http://www.dumblittleman.com/2010/05/9-proven-ways-to-charge-up-your.html
----------------------------------------------
Ok wont bother with more...but the reason I share all these links here is that I know it will somewhere somehow help you if you are receptive to them...reading is something I have always cherished....and has helped me a lot...
Remember "LEARN TO FISH" and you wont sleep hungry!!!
Cheers!!!
Ps:Ilango... I hope I aint overstepping here!!!
Few Thoughts
1.Though did not have luck to study in the “ Premier Tech. Institutions” , found that the not so premier Tech. Institute of which I was a student of, taught no TA.Took admission in an institute called “Ilango’s Institute of Tech. analysis” ( now its my premier “IIT” in which I belong to Nursery , The Class of 2010).Tried to make my friends’s see the already spilled Barrels of Oil by the Goras, (worth 7500 cr. And counting ) but still few Jack and Jill tried to go up the hill, and came back Humpty Dumpty.The Oil spill is at its max. after Oct 08.
2.Have still to learn about “Waves” , afraid to surf in Nursery ,but can hear a sound of Mini “ Sunami ” coming .(ya ,I have dog ears , ‘Bull’dog turned a ‘Bear’dog last month) & my dog sense tells me we will test the recent bottom of 4844 tommorow ( see he is again sticking his neck out ,take out the axes and grind ) and then in next two days Dhan tan na------.
3.Some thoughts to follow
@Ilango
Everyday I had was a losing day before sometime, but after getting into this blog I am learning something that are new and giving me confident that I can win the market like everyone here with support of Ilango sir and others in this market.
Thank You,
I must have some contrarian streak working in me. Now that all of you are saying down, I'm beginning to think it'll gap up.:)
can anyone tell me what is the closing price today nifty future and spot ?
4,943.95 12.80 (0.26%)
May Futures 4,931.052.65 (0.05%)
Yoda - nice someone decided to hold a match stick in a dark tunnel-many michievious people like the dark it seems. Have you ever heard them singing and dancing on a bright road?
RV-touch the hand hanging by your "stuck out" neck - it is mine. Took the pill and feeling very releived. Atleast can enjoy rest of the fall. Found Desi Breif.
===
Manu - RV finishes your sentence saying ",wearing Topi".
===
Anuj - We belong to the country where "eye surgery" was done when Firangee was searching the knife. Your invention will be a help. Will try it out and with your permission will release it for "human consumption.
Thanks ilango,
The excel sheet which you sent me and my subsequent trial /
error has surely improved my timing of entry/exit for the RSI
based system that I follow.
Just wanted to say thanks and add my system based analysis to
your blog.
Nifty:
The bounce back we had today is correctly interpreted by you as
of correction formation in a declining trend.
That is exactly what my indicators are suggesting at this point
of time.
Weekly chart, however, is advising to enter long positions
for a target of 5300 again. This will be negated on a weekly
closing below 4752.
Additionally, monthly chart is showing me that 4875 would be
a much crucial level which the bulls need to defend.
Having said that, there would be sideways action for atleast
6-7 sessions as the weekly signal needs to graduate to a
daily and finally to an hourly chart.
Traders should enter on declines with a stop loss of 4752
on a closing basis (weekly).
Enjoy!
Mithil
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