Bank Nifty has closed above 5DEma and on the verge of triggering a JNSAR buy tomorrow..Will it?? It has been leading the action by not making a new low in yesterday's late fall and clearing weekly high today (For Nifty, it is 5907).
JustNifty TA(13)
Wednesday, January 12, 2011
Nifty establishes a critical short term bottom @ 5700.
The price action of the remaining two days will throw up the first clue/ confirmation to the future price action. Markets keep its options close to itself but the short term directions are often fathomable and the traders need just that.
Bank Nifty has closed above 5DEma and on the verge of triggering a JNSAR buy tomorrow..Will it?? It has been leading the action by not making a new low in yesterday's late fall and clearing weekly high today (For Nifty, it is 5907).
JustNifty TA(13)
Bank Nifty has closed above 5DEma and on the verge of triggering a JNSAR buy tomorrow..Will it?? It has been leading the action by not making a new low in yesterday's late fall and clearing weekly high today (For Nifty, it is 5907).
JustNifty TA(13)
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
12 comments:
Dear Ilango,
Good eve.Good to here you are feeling better now.
First of all lot of thanks for "Jesse Livermore's"
motivational quote because Experienced it today.
Sharing experience here,because,from which everyone may take a lesson.
Bought very good quantity of 5900 CE @ 34.85 but exited very much impatiently in just few points.Afterwards 84 was the top there.
Conclusion:They beat themselves, because though they have brains they cannot sit tight."
I have deliberately shared the experience,which will be remembered for "Not to Repeat".
Regarding Market.
5850 would be the key Number for tomorrow & a day after tomorrow for NF. NF O.I. around 2 CR.favor Bulls but probably,trading above-below 5850 may decide the trend in coming trading sessions.
Dear Mynac,
Thanks for sharing your Trading Experience in JN Family. It is another learning curve to be patience and sit tight.
thank you mynac for your views about the experience.. mm unless we do "in real" we can't learn anything. yes again i did "upward" today but this time "very successful" becoz I "got" why my earlier "two trades" failed learnt a lesson with SL hits + i didn't reverse my position to shorts also (so i didn't make profit also), total sum up "took vengence" today enjoyed and closed my intra. positional still there let us see. Nothing will match with our "own experience" paper trades, subscription, copy cat can't help in anyway whether in life or business what say??
Arpit - Jai ho, Jai ho, Jai ho, longgggg liveee doing backtest with your "yearly sensex levels" in my style..it's too early to say "success" but ofcourse it's simply superb. thanks a ton for your help.
GE Sir and all
Can anybody how to calculate avg closing price before 3.30 pm ?
*tell
Suj nice to hear ur trade 2day.
I cud not take the trade 2day and missed the rally
@ Prachi - only one "jn" mate doing that previously he/she posted, i don't understand that time, i think now also i can't understand much technicals :P poor grasper. thank you. but always do "contra trades" this time just missed becoz of my "patience" anyway caught it finally :) straightening the "dog's tail" is difficult.. i am trying for "not doing that" alas what to do??
Sir - i had a doubt - my little knowledge says "nifty closing with engulfing line" bullish???
Dear Sir & All,
I'm trying to put my view here just for learning purpose...your valued comment will enrich me.
In 5 minute chart nifty made a narrow channel from 1:30 pm onwards. Nifty closed just above the lower border line of the channel. So, in my opinion breaking of either side of the channel (5855 and 5875) can take nifty to either 5770 on lower side or 5950 on upper side. But I think nifty has taken it's support for short term at 5700. So, we can see 5925-5950 tomorrow.
regards
sreyO...
Sujatha & Prachi,
In Yahoo finance you set the chart for 1 day and take the 30 sma which is nothing but the average of last 30 minutes. So around 3.25 pm we can know roughly at what level the aveaging will come to. You can see the following link:
http://finance.yahoo.com/echarts?s=%5ENSEI+Interactive#chart5:symbol=^nsei;range=1d;indicator=sma(30);charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
best
Dear Prabakar,Sujatha,
"What to do",we generally discuss,but "what to avoid" normally not discussed due to shame or fear,We here all are members of JN family,so sharing experiences here is like sharing with family.
Will definitely try to learn from today's experience.At that time was angry with myself because,"though saw straight and clearly and yet became impatient and doubtful when the market took its time about doing as I figured it must do."
Any way at least got the learning lesson with no harm.
@Prachi,
I remember Those experts discussion here about corrected close,I think so it's average of last 20 minutes trades.Dear Janaki could throw some light,because yesterday she calculate the close very perfect.
Just for curiosity I calculate today's close from following link.
http://www.nseindia.com/ChartApp/install/charts/mainpageall1.jsp?Segment=OI&CDSymbol=S%26P%20CNX%20NIFTY
Last 30 minutes average is taken as close by the NSE. I use 30 SMA on 1-minute chart in my Amibroker to know the exact closing a couple of minutes before close.
thanx manoj , mynac and janaki.
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