The retracements are: 50%-5277 & 61.8%-5301.
The 80% mark is placed at 5340 & JNSAR too.
Having broken below last 2 lows 5268-98, Nifty fell 100+ points and is likely to face resistance @ 5268-98 where the 21 Hrsma, 34Hr sma & 5DEma are placed and then resume its corrective move down. "5340-80%" would negate such a view.
Caution: Correctives are complicated. Two way moves of sizeable sizes unfolds.
We have stated the criteria to initiate "intraday trades" using Nifty Intraday Live-5min.chart & 34Ema.
36 comments:
GM Master, seniors & blogmates
Thanx master for answering my query about BN CT query
which I asked yesterday.
One more query is that How reliable is this contracting triangle breakdown target?
Becoz u always say triangular correction is difficult to trade?
If i were wrong Plz correct.
@ prakashbkc,
If we look for "3-waves"/ 3 part moves and trade the prices, contracting triangles are quite rewarding as they will be quite predictive.
However, if this is not a "CT" as this corrective could also be relabelled..?
Best way is to initiate "Trades" based on "Intraday criteria" and earn some points.
When positional numbers are triggered, initiate or reverse the positional trades.
Good Morning Master & Friends
Namaste Ilango Sir And All.
Namaste Ilango Guruji, GOOD MORNING to YOU & to all members of JN family..
Namaste Master and all friends
May the Supreme Lord offer us integrity and good health so that we can prosper!
Have a successful trading day
good morning sir and warriors
Good Morning Ilango Sir and all.
Good Morning Sir and all dear friends.
Good Morning Master and copy to All
The only difference between impossible and possible is time,Things which were impossible 50 yrs back are possible now and things which seems impossible now will become possible some day.....Many things in life may seem impossible and difficult ,give it time ,think calmly,remain focussed,plan properly and do it with determination.....IMPOSSIBLE BECOMES I AM POSSIBLE ONE DAY...
Namaste Ilango Sir & JN Family
thanx master for clearing doubts
Tried to gather NS values from previous close till Today's JNSAR.
5224-HrJNSAR
5227-HrHEMA
5228-HrJ10SAR
5236-WJ10SAR
5241-DLEMA
5244-Previous day High
5252-R1
5258-Weekly Pivot
5275-5DEMA
5284-5DMA/R2
5289-Week JNSAR
5301-0.618% retr of fall from 5382 to 5171
5311-5WEMA
5323-Daily J10SAR
5326-.736% retr of fall from 5382 to 5171
5328-21-DEma
5335-13-DEma
5338-10-DMA
5340-.80% retr of fall from 5382 to 5171
5344-Daily JNSAR
GoodMorning sir and all ...
DR sir what a positive start of the day !
All the above values are from TT.
Goodmorning sir and all :)
PT - give me 335/372/383/5437 @@@@@ oneeeeee gooooooo :D :D :D lolZ
Bye - catch u all later
@prabakar,
good one.......
So finally one upday has come from about 5200 level. Whenever top
is made of this move may be today or monday morning, then again
grinding towards downwards again happen.
Time pass TA discussion
If a channel is drawn
how many times price could touch
Resi & support in a channel
or can say
make peak and troughs in a channel
TA, EW, Tukka all r welcome but with logic
http://www.investopedia.com/terms/p/price-channel.asp
@dr sir
3 times TUKKA
Prabhakar good one - These numbers are like great
signposts and keeping a watch on them in ascending
descending fashion has helped me intraday though my
intraday trades are rare and few in between. It helps
in the positional setup too. Thx.
@DR...with few Pinocchio...I think it can 5-6 peaks and
troughs.. :))
buggie advani
3 time up side or down side?
@Master: Did not suspect mkt would make a gap up. Since
situation changes everyday depending on global cues, it was
touch to retain positions overnight.
Since nifty broke the 61.8% retrace levels, is it mandatory
to break 80% levels too? As of now nifty is at 5309 finding
it touch to cross 5312-15. So do we short here (what is
the SL?) thinking it is resisting 5312 or do we go long
here thinking that it is not breaking 5301?
I am confused.
@DR Sir
downside
hourly chart is making a bull flag with breakout levels
around 5350.
5300/5200 PE OI building up again..looks like another
upmove setup...but I am scared to carry long position
overnight.
buggie advani
u mean 3 times like this
http://chart-patterns.netfirms.com/pricechannel.htm
Sir I feel ,
5268-5298 was the prevoius resistance zone and now that prices are trading above it , This will act as support .
ORB is 5292-5317
5311 being W5Ema ...
IF we break 5317 and go up , one can take long positions ..
5313 is 10ema.
Is this logic right to take positions?
@PRABHAT,
DO NOT BE IN HURRY. You will get an opportunity to short. It is safe
to short at 5370 level or monday morning level.
ORB broken on upside ? (5316 ?)
*5323 is 10ema
New Post Done..
"Why would there be confusion if you look at prices vis-a-vis TT Nos".
Thanks Dare & STBuSTBe.
Prabhat since u mentioned I did short here for a scalp
upto 5250-60 spot, will cut if spot crosses 5340 80%
retracement
@DR
for me every trendline in a price channel must be
tested atleast three times, out of which two touch
must be of 'pivot' points mandatory, to increase
its significance...
'pivot' points r those, which are formed on bar, which
has lower high around both sides in uptrend(or rather
upper channel) and higher lows surrounding it during drwawing support line...
closing prize please!?
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