Waquar asked: Can you please post a write-up as how we could have traded today(17th May, Thursday):
How: As per Pre-market view, it was a buy above previous day's high @ 4882 and it moved into the resistance zone of 4910-30. Since the fall from 5125, the bounces have been in the range of 69 to 86. Hence, a potential resistances would be 4906-4923. This is "the best" quantitative analysis for selling into rises in downtrend and buying into declines in uptrend. And there were many resistances ahead @ 4925(Dema) 4930(80% of last fall). Being below most emas, & having moved up nearly 90 points from the lows of 4837, it, first, fell to 4910.40 and bounced off to 4919.30 @ 11.10AM. And when it broke 4910 again, it was a good sell for retracements towards 4859-Day pivot & 4854(80% of 4837 to 4922).
This break of 4854(80% mark) again warns you of more downsides...more new lows.
Based on previous day's price action, you could plan the 1st session's trade and the rest of the day is mostly guess work. Hence, make the initial trades based on sound study.
Now for today: With weak global cues, we wonder whether a selling points are possible at the open. Break of 4855, is a sell for a min. targets of 4800-10 and more(4750-70). Today could be the "deep cut"..There is a trending move within a channel as shown in the chart below. Longs, for intraday only, possible whenever Nifty reaches the bottom & shows signs of reversal with a move past previous hour's high. More strength would be possible only when it breaches the middle(red) line to target the upper line.
"Shriram" sensed & voiced of the flat correction towards close after the fall from 4922 to 4851 yesterday which is "i" & "ii" done and "iiird" to start today....a "iv"th would be a selling ops. And what "Shriram" says about EW....still not believing...You'll believe as long as you discriminate only the "obvious ones". Not all life's mysteries are known to us. We, mortals, should be happy knowing this much... JaiShriRam..!!
How: As per Pre-market view, it was a buy above previous day's high @ 4882 and it moved into the resistance zone of 4910-30. Since the fall from 5125, the bounces have been in the range of 69 to 86. Hence, a potential resistances would be 4906-4923. This is "the best" quantitative analysis for selling into rises in downtrend and buying into declines in uptrend. And there were many resistances ahead @ 4925(Dema) 4930(80% of last fall). Being below most emas, & having moved up nearly 90 points from the lows of 4837, it, first, fell to 4910.40 and bounced off to 4919.30 @ 11.10AM. And when it broke 4910 again, it was a good sell for retracements towards 4859-Day pivot & 4854(80% of 4837 to 4922).
This break of 4854(80% mark) again warns you of more downsides...more new lows.
Based on previous day's price action, you could plan the 1st session's trade and the rest of the day is mostly guess work. Hence, make the initial trades based on sound study.
Now for today: With weak global cues, we wonder whether a selling points are possible at the open. Break of 4855, is a sell for a min. targets of 4800-10 and more(4750-70). Today could be the "deep cut"..There is a trending move within a channel as shown in the chart below. Longs, for intraday only, possible whenever Nifty reaches the bottom & shows signs of reversal with a move past previous hour's high. More strength would be possible only when it breaches the middle(red) line to target the upper line.
"Shriram" sensed & voiced of the flat correction towards close after the fall from 4922 to 4851 yesterday which is "i" & "ii" done and "iiird" to start today....a "iv"th would be a selling ops. And what "Shriram" says about EW....still not believing...You'll believe as long as you discriminate only the "obvious ones". Not all life's mysteries are known to us. We, mortals, should be happy knowing this much... JaiShriRam..!!
66 comments:
Gm Sir
After Filling the Gap of 16-17th jan @ 4874-4906 are we moving towards the Gap of 9-10th jan @ 4743-4772.
Regards
Jayant Singh
Jai Shri Krishna Ilango Sir
Good morning.
excellent write up/ guidance by illango sir
thanks to sir and also Waquar for asking for the write up
@ shradha saburi said
Because of two days closing at the same level
Day fast averageJ10 SAR is coming near the Day Jnsar
Day JNSAR is very fast coming down .
Bears has to take care that J10SAR should not cross
the Day JNSAR ,If so then market most probably will
enter in the grinding phase again.
sir please elaborate the crossing of Day JNSAR and J10 SAR , pl elaborate
your obsevation , thanks
EE done
Good Morning Master and copy to All
I want half day CL
will be available after lunch
Dear LV Sir,
Our prayers for your speedy recovery.
one view ...http://i.imgur.com/5SAuq.png
2009 year: election gap filling::when ?
bank nifty: j10 >jnsar
Good Morning All,
Day JNSAR trend line has nearly has become vertical
tomorrow probably we may have future JNSAR with max
difference again( nearly 35 points).
IF bulls has to overcome this, they require sound
break out otherwise deep cut intact
regards!
May 16, 2012 8:50 PM
It is true for tomorrow also
Because of two days closing at the same level
Day fast averageJ10 SAR is coming near the Day Jnsar
Day JNSAR is very fast coming down .
Bears has to take care that J10SAR should not cross
the Day JNSAR ,If so then market most probably will
enter in the grinding phase again.
let us see what Sam Uncle does today?
regards!
May 17, 2012 7:54 PM
well Dow is red so the Asia.
so bears are letting to go easily for the bulls
they will trap the more bulls. Keep watch on
the Day JNSAR and J10 SAR a perfect trend indicator.
regards!
suresh
get it filled today itself before lunch
http://thechive.files.wordpress.com/2011/09/funny-baby-crying.jpg
pls read bears are not letting to go easily for the bulls
dinesh ji,
not so fast:
Good Morning ALL
day pivot S2 at 4809
Week S1 is at 4768 and S2 4630
All untraded areas(Gaps) in nifty will be traded this month ?
GOOD MORNING ALL,
Day JNSAR trend is showing downward trend..
At the time of triggering the day JNSAR (slow mov avg.)
J10 sar( fast mov avg.) was almost same
good possbility for large down cut.
let us see market is supreme
May 6, 2012 10:59 AM
trend indicator yielding good results
regards!
Supports have been created just to create mirage
@L.V SIR wish speedy recovery.waiting for your joining.
Good Morning Master & Friends
I think everyone forget the nifty's monthly
closing above magic 5217.
Good Morning Ilango Sir and Friends
Nifty month chart: CLICK HERE
Namaste Ilango Sir and fellow bloggers
LV
Namaste beloved Master and friends
May the Lord bestow us all with peace of mind and integrity!
Have a nice trading day!
Dear Brothers and Sisters,
I am greatly moved by your kind gesture. I find no words to express my emotions. I can only say a thank you. Acknowledging individually is an onerous task. Kindly pardon me for my inability to do that.
With lots of love and regards.
LV
Thank You Ilango ji
You have an uncanny ability to make the things so simple
for us to understand :-)
Rgds,
Waquar
@ Sujatha
Even when there is no BP why doctors give BP tablets?
The cardiologist gave your father, probably, a Beta-blocker. This tablet has two functions.
1. Reducing BP and
2. Reducing the heart rate: a minor function.
The doctor gave this tablet keeping in mind the minor function. Patients with heart disease should ensure that their heart beat never exceeds a predetermined rate. This tablet has the potential (Chronotropic function)
So, please do not stop the drug on your own.
Love and regards
LV
Venkatapathy sir.
What a shock to know that you suffered a heart attack.
But seeing you commenting brings great relief.
Have a great day all.
Still holding the JNSAR short from 5215NF.
This is the biggest gain of my JNSAR trades.
Thank you sir and all for creating such a
wonderful system.
Nifty are at critical juction
Experts please advice, if monthly trend-line got
broken then what next support level ?
good morning sir and all friends.
Master ilango, Good morning and thanks for the beautiful,
educational writeup.
A must up for my notes.
Regards
☺☺
bottom fishing in wrong pattern - many innosent??
Open & Low are same @ 4796.40.
@Sujatha Ma'm/Kumar Sir: BN has broken the 9000 mark?
what is the immediate support below 9000? Free fall?
there are similarities in 2008 fall and 2011-12,
even wave points are matching, if so then tgt
may be near 3800. forget the word oversold, as
from 5100 nifty gone upto 5630 in over bought kind
condition,
It seems there is some problem with NSE
GM Everybody...
Dear all,
many indicators and many methods will not give you
yield ,will make big hole to your pocket.
Only JNSAR can give you bumper yield
watch
http://www.youtube.com/watch?v=bvhn9ZpRzuI
follow only one method and keep it simple silly.
from:experienced trader who
most sufferred by using orb pivot camerilla methods
DAY ho ya night
JNSAR always right!
Good Morning Respected Mr.Illango,
My Beloved Master Mr.Dinesh Rishi
& All Blogmates, Have a Prosperous Day.
Good Morning Mynac
Are we on the Verge of Global Meltdown ????
Sensex almost achievs 80% of (15135-18523) rally.
@ Ilango Sir - You mentioned that the open and the low are the same... what's its significance ...?
Camarilla Key Levels - Scenario 4
H4 4910 [BUY]
H3 4890 [SELL]
L3 4850 [BUY]
L4 4831 [SELL]
GM sir and friends :)
LV/Kumar sir - thanks for your guidance.
Prabhat - yesterday i posted to 'DR-ji" pls. check onceagain figure done but i didn't short yesterday :(
Bharat - meaning hidden msg = if the low protected "intra upmove possible"
sir am i right???
@Sujatha Ma'm: Can you pls re-post. I am lost in the messages.
If Greece exits ECB it will cost European state quite dear.
even if Greece stays it will not be something great.
in both scenario, it is problematic.
we can be almost sure that some states in Euro zone are going
to be bankrupt.
i think in BN ilango mentioned about some golden ratio/
(or was it triangle?) below 8970? below that - a deep
cut...
Good Morning Master and all blog mates.
hi shrada
how to calculate jnsar
good mornig,seniors..
Ok. Thanks Sujatha!
Prabhat - lazy to search old post but figure is - 9K breakes 8922/908/8825 i given
gkm - thanks ur OS mkt msg is for me??? :D i always hv fear to hold short @ OS mkt by PT's grace
i did but mostly do contra trade also ( INTRA peanuts) whether up or down
that will be helpful for "atleast veg. expense and power tariff" :)
Morning Ilango ji & all frnds,
All shorts closed today...
Day supports @ 4780
Weekly supports @ 4706-4718
Long Term TL support @ 4750
Its time to sit out & see if these hold!! Have a gr8 trading day :-)
cheers
Keep the retracement of last fall from 4878 to 4796:
23.6%:4815
38.0%:4827
50.0%:4837
61.8%:4847.
80% @ 4862.
50% is the gap fill..
Good Morning Gurudev and friends
Dear PT,
GM..What a question you are asking to me? Am I fit to answer it?who used to trade for just “few” points?...
In the mean time my simple trading plan for the remaining day "
If Nifty shall fail to cross and sustain above day top(4815) then it’s next target would be 4765-4770 for rest of the day… AND
If it will cross & sustain…then has the potential to go up to 4840…
DR - ji - this time 9025 breakes then 8922/08/8825???? so that nifty may place @ PT's place.
PT - ur views too welcome
May 17, 2012 12:46 PM
GOT IT PRABHAT
Illango Sir,
61.8% will be gap fill , correct, because yesterday low was arounf 4850, or is it based on NF?
@Sir,
If you want make Rome here
Make everybody Roman.
otherwise It will be INDIA.
this is my sincere request
many many regards!
@Myanc
Thanks a lot .. i am just fearing Dollar the way it is
shooting up
@ chetas,
Last low was 4837. Today's open 4796 and current high 4814.40.
Hence the gap zone is 4814.4 to 4837.
and if it falls then i will die :D
mynac - and a small change no probs if it is "4940" or sir's 80% level
@ Sir,
"Open & Low are same @ 4796.40."
What is meaning of this ??? Please help me.
Dear Chetas
5SMA is almost 80% --4855
New Post Done.
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