A Mail from a reader that would be answered:
Since last few months I have criss crossed your pages on various occasions, viewing your writeups as lexical input.
Every time I am stuck in two stops.
1. It would have been very convenient had there been a combined essay covering all the aspect, step by step, (like stiching a MALA)or should I say the considerations which goes in your mind while considering taking any position, which will enable us to enrich with your theory and experience.
2. While going through the CONSERVATIVE & AGGRESSIVE trade column which is given along with PREMARKET VIEW
I am totally confused as however it is given on premarket review unable to match when you are shifting your stance.
Going thru the write ups after you have reversed the position I have found no hint of the step in your previous or same day write ups.A mention of direction or a few consideration in which the new position is to be taken along with the same column would have helped interpret the position.
I presume you dislike spoon feeding, so do I, however, dissecting the thought of a knowledgeable trader gives an enriching polish.
Being shy of the rush in your blog I decided to email you, hope have not invaded your privacy.
I shall be really grateful for your reply.
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What goes through my mind is years of experience of being exposed to the market which translates into certain dos and donts while reading the markets/ using various studies. I have given them in the following write ups. The sequencing of my thoughts based on various studies is complex and haven't been attempted to be put in words. Would try as time permits.
Applied Technical Analysis- A summary (Wrap up)
Weekend Analysis - Applied Technical Analysis.
OPTIONS: A powerful tool to be used with high discrimination
Nifty Tech.Analysis File explained-1.
JNSAR with TA /EW / Tech.table inputs.
Regarding Conservative Trade: The trades are taken mostly as per the Pre-Market view. However, on certain occasions based on sudden turn of prices, the changed view is communicated through "Comments section". There is another criteria too that Conservative trade is generally initiated before the JNSAR trade(Except during sideways market) and hence for some reason, if it is not done, the same should be applied here and trade taken.
Aggressive trade: These numbers are picked as per my perception of the market...whether trending or sideways. You need to ascertain first whether market is trading above pivots or below pivots..closing above pivots or below pivots..overbought or oversold..near the supports or resistances based on price study. And then sell or buy as per the resistance numbers(in red) or below Pivot(Pink) & buy @ supports(in green) and if that breaks, the next support(in green too).
Understand the colouring in Tech.Table(TT) to know the severity of a trend & direction and take those trades which are comfortably positioned. Your returns will be based on risks involved. Balance it.
JNSAR Trade: Enough has been written on it. You take a trade when this number is triggered. Also know that when Nifty is trading below JNSAR, the trend may be considered to be down and your trades need to be on the sell side till a confirmed +ve divergence develops.
31 comments:
Good Morning Sir,
I was short from 5800 and booked my full profit @5575,
looks like we will have gap down opening today ..should I wait
for 5600 level to short again or can take an aggressive
short trade in opening itself.
Please guide
Thanks in Advance
Good Morning Ilango Sir and Friends
NIFTY's Bearish crossover in weekly chart: CLICK HERE
Good Morning Ilango Sir and JN Family.
Nifty spot volatility based Range.
High-5704.29 Low-5426.21
Ratio Uptrend Downtrend
0.272 5603.07 5527.43
0.382 5618.36 5512.14
0.500 5634.77 5495.73
0.618 5651.18 5479.32
0.786 5674.53 5455.97
0.888 5688.72 5441.78
1.000 5704.29 5426.21
Fib. Retracment Levels from 5177.70 to 5944.45.
38.2 - 5651.55 done
50.0 - 5561.08 done
61.8 - 5470.60 pending(once done it will also fill the gap created on 24/03/11 at 5485)
Since 61.8 considered as golden ratio, considering the OS of Lead indicator(35D), RSI(14), -ve MACD in Hourly chart, we may be expect a bounce.
Nifty Future range for tomorrow
High--- Low----
5715.35 5422.05
Ratio Uptrend Downtrend
0.272 5608.59 5528.81
0.382 5624.72 5512.68
0.500 5642.03 5495.37
0.618 5659.33 5478.07
0.786 5683.97 5453.43
0.888 5698.93 5438.47
1.000 5715.35 5422.05
1.272 5755.24 5382.16
1.382 5771.37 5366.03
1.500 5788.68 5348.72
May ur pockets b heavy n ur heart b light
May gd luck pursue u each morning n n8
Gud Morning
VGM DR Sir.
Good Morning ilango sir and friends,
Today's Quote received :
Watch your thoughts they become your words
Watch your words they become your actions
Watch your actions they become your habits
Watch your habits they become your character
Watch your character it becomes your destiny
Good morning sir and friends GM DRSIR
Ilango sir jnsar 5798 showing 5824 in jnsar trade table
Gap filled between 5529 and 5560..hope nifty will rise from here..
good morning to sir & all friends here.
@sreyo normally when gap is broken and trading happens
below it ...upper end of the gap will act as a resistance
Ilango Sir,
If you dont mind me correcting you Wave c of Wave A should have 5 wave labeling and not 3 waves.
The zig zags in the double zig zags are always subdivided into 5 waves and hence the new Wave a of WaveC cannot be a/b/c - it will likely to i,ii,iii,iv and v
The key question is the move from 5944 to 5693 cannot be wave i of wave a of wave C because wave (iv) of wave i enters the price action of wave i of wave (i)
So it looks like wave 5 got truncated at 5912 and wave i of wave a of wave c is in action
Could you please confirm
Regards
Good Morning Sir and Warriors
good morning all
Good Morning Everybody!
Nifty is oversold on hourly so Buy 5500 call @117 with stop loss of 95 & target is 150-160.
Kumar
thanx saurabh..
@ Vanquish,
I generally label the correctives in "abc" forms only.
"C" generally follows a 5 waves. And I do not go beyond these guidelines.
Since my labeling is based on a combination of TA/ trendlines, I do not apply other EW tenets.
My EW perception is based on the Main 3 Rules only. And I consider correctives of quite complex in nature and take liberty to label as I see fit only. Markets are evolving and I have too.
kumar
thanks for reminding that nifty is oversold
thanks kumar sir
kumar sir rocking !!!
Master,
What would be good resell levels now?
@FIRE. would that be 5640 levels?
@ Fire,
5595-5610 for the day.
Higher selling points are as per retracement or breakdown points.
Thanks sir
Nifty tired banghead day ahead
http://www2.cit.cornell.edu/services/cubs/images/tired%20bear%20cub.gif
New Post Done
@Drsir
Expecting 59k-60k in silver. 56k too possible. After that consolidation between 56k to 61k possible
@DR :)
@ Mr Kumar,
Thank you for the 5500 call at 117.
ilango,
reversal only above 5610?
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