Bank Nifty shows more pronounced wave pattern and it shows a likelihood of completing a 5 subwaves from its recent high of 10772 (For Nifty 5556).
The coming days would show, if the reversal expected retraces for the current fall from 5556 or the entire fall. A new low around 5206 would be an opportunity for aggressive longs with appropriate stops. Remember also all the intraday rallies have met with selling in this downtrend barring major retracements. Hence... TRADE or else you'll find your profits disappearing in a jiffy. Use of trendlines will help you initiate and exit in combination with resistances/ supports and Pivots.
27 comments:
Market to remain very volatile. Nifty spot if breaks and trade below 5240-5220 then some more profit booking will follow in the market and if Nifty spot manages to trade and hold above 5320 then some recovery can be seen.
Important US data to be released today:
1. Jobless Claims
2. Wholesale Trade
3. EIA Natural Gas
4. Fed Balance Sheet
Good Morning Ilango Sir and Friends
Bank nifty Analysis: CLICK HERE
Nifty is about to complete a cycle: CLICK HERE
GM to Ilango Sir and blogmates.
Good Morning Sir and Friends.
Very good morning Elango Sir and dear blogmates. San ji vanakkam.
Sir, yesterday i requested to throw your grace on my charts posted in my blog, but today i got your reply from nifty hourly chart and san's analysis. Thank you grand master and to mr.San.
Have a nice profitable day.
Received JNSAR historical file sir, thanks.
Good Morning Sir and Friends.
Open and Low same in NF today.
Good Morning ilango sir and friends,
Today's quote received :
It's not the things we get...but the heart we touch that will determine our success in life.
Always refresh your Mind…delete your Mistake…Create your own dreams…Minimise your Negative thoughts…Maximise your target…Shut down your worries.
Good Morning...!!!
low broken.
One View: Last fall from 5440 just finished 4.c and 5.5 is on. To end with a new low..
can we initiate short in sbi as it broke important support 2550
@ fire gm. in bn we join all the top of 2010 then we broke about the resistance line that was actiong as major support in bn is broken like 5700 was for nifty. so are we going to see crack in banknifty
sorry read as supports pre market view
ILANGO SIR, VIX IS CROSSING 26. CAN WE ASSUME A FALL
FROM HERE & NO EXPECTATION OF RECOVERY?
Sir,
If possible could you please post the chart with 5.5, for learning.
resp. i lango sir, in ur pre market view, u have mentioned to TRADE with appropriate stops.
also, u have mentioned that a new low below yest . low of 5227 is expected, that wud most probably be 5206 & this wud be an opportunity to take agressive long.
what shud be that appropriate sl ?
& how much higher level, we shud be making an exit, to book our profits, for this agressive long.
thanks
regards
as i post..but 5200 and 5300 calls added 1 lakh in OI
ONLY A Move Above 5250 & 5277 may confirm a minor bottom having been made.
Why there is still highest OI in put at SR 5400 when
nifty is trading at 5230?
sir- if i post back to back posts, my previous post is being deleted. Any one has this issue?
@Dakshit,
I will buying BN today close to 10000 levels with a SL below 9950 as stated in the Stockwealth.
Bottom may be in..for the day.
Lots Of Salutes To llango Sir.
Very Hard Working.
Can you Tell me How to trade in stocks with Help of JNSAR
NEW POST DONE.
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