Today's action will more or less confirm the Bull/ Bear possibilities as shown in the chart. As traders you continue to sell near the upper band & buy closer to the lower band and trade the break out.
Wednesday, December 8, 2010
Nifty PreMarket View.
It is possible for another low to be made for the lower band of a corrective range(if that is what going on) around 5920-5935. As long as Nifty is not able to close above any of the High Emas, this pressure will continue and that is "Sell on rises"..
Today's action will more or less confirm the Bull/ Bear possibilities as shown in the chart. As traders you continue to sell near the upper band & buy closer to the lower band and trade the break out.
Today's action will more or less confirm the Bull/ Bear possibilities as shown in the chart. As traders you continue to sell near the upper band & buy closer to the lower band and trade the break out.
Elliot's Impulse waves.(Part-5)
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37 comments:
Good Morning Ilango Sir, San and Friends
GM Prabakar
TataSteel, TataMotors, RIL highly overbought in the hourly T/F.
A likely sell may emerge in these stocks.
These stocks are showing negative divergences.
good morning Sirji and all freinds,
Sir, In the PM view it is mentioned to trade by buying at the low, however if the low is below JNSar then should we go short with 10point filter or buy the lower end of the range??? Sir very confused please guide
Thanks for being there
Geet
Sir,
I dont see Bulls to be strong as of now.Bears having edge.
6000CA is having highest OI in Dec series.Some put covering was also see at 5500-5600 lvl.
Dollar index abv 80 again.
Sir, Thanks a lot for providing the alarm for stocks.
Goodmorning sir and all.
Sir do JNSAR trades reverse at 5933 or should we keep filter considering it comes at the lower end of the range?
Good morning Ilango Sir and all
====
Sir,
Can we keep filter to Positional short(S&R 5930) also? like JNSAR short below 5933
====
@ Geet,
Please do not come into the trading room and start having "confusions".
JNSAR will trigger a sell if 5933 is breached - that is a system.
J10.SAR triggered a sell yesterday but since I have suggested that being in the trading band of 5935-6070, to give it some filter.
Intraday trading need to be viewed differently from these mechanical systems.
As OI analysis suggests, SELL
Thank you Sirji,
You are very kind
Many Prannams
geet
Thanks sir
GM Sir & Friends
Sir it is impulsive or corrective down move.
GM to sir and friends
@ Ashutosh,
It appears impulsive down move.
Bank Nifty's price action should have alerted us to the fate of Nifty.
Nifty could spend some sideways action from here for most part of the day.
Shorts may keep 10 points above day's high as SL.
If sold at the open, some part booking.
Gm Illango Sir & all
gm sir and all:)
Dear Sir,
SAR once breach and suppose its come back than this is fake false.
pl guide do I buy if it is cross 5930
JSK BHAVAN AND NIMESH BHAI:)
The bulls are squashed.
sir yehan par aadhey log to confuse hi rahthey hai jab ki aap ka TT SAB KAHTA HAI
Godd morning,
Ilago sir & friends,
As per j10.SAR 5956.00 - filter 20 points 5936.00.
CMP - 5921.80 so we are short OR wait up to
closing hour ???
@operator. Not today. Will hold the position unless some drastic moves happen where we can hope that sir will alert.
@prashsat bhai. Let us poor souls also learn :)
Sir,
You told, you are spending very less time on BN. But results.. each leg its giving more than 500 points. Any reason to it?
@abhishek. J10SAR system is short
Me too Confused.
cant reverse my position early
Can I wait for 5930 to reverse my position or just
reverse here?
@ Operator,
This being a mechanical system, it captures big moves. At the same time some whipsaws will be there.
As per our guidelines, once triggered a sell or buy, it is not reversed the same day. Individuals may keep some SL.
@ abhishek,
No filter after 2 days of triggering a buy or sell for the reversal trade.
Buy triggered on 1st Dec.10 and hence for this reversal to sell, no filter is used.
if this is a simple ABC correction then the hourly channel drawn has
support around 5915, 5918 is 38.2% retracement.
Attempted a buy at 5918 with sl at 5908
Hello I think the master has said today once the JNSAR is triggered we have to short. Yesterday was one off days where he mentioned int he beginning that J10SAR will get a good entry point. That time we did take longs and benefited yesterday. But today is complete short once JNSAR and J10 SAr has been triggered.
Please correct me if my understanding is something wrong.
rgds
Rahul Goel
Some furious bulls are scratching the mud in BN. Potent or mock fight the day will tell. Decent big candle buys are matching the sell candles.
NEW POST DONE.
Good morning sir and all-special Hi and GM to RG:)
anybody noted my gann square9 and nifty future levels??? if so be alert - 2nd supp. FUTURE is 5940/10 breakes will give 5880/5815/5775.(weekly levels) depends upon the OS/any indicators one can do intra long with caution. watever upside below 5943/75 is weak. spot break below 5917/18 is weak can expect more downside. rest of the target check gann square levels.
for intra Nifty future -if breakes 5940 downside is 5920/5900/5880.
Happy trading day to all.
regards
Ilango SIR & cooldent,
Thanks for detail reply.
Will follow your instructions.
Sir
Nifty @ 5920, JNSAR triggers a sell. Is that right? Or we need to add filter to this level before taking a decision?
Ilango sir,
as positional suggests stop & reverse @ 5930 ; is it on closing basis ot intraday .
It is very good.
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