Hour TA reversal has made a "Day close above DEma-5643".
A move above "5650"-2 day High is strength.
First resistance would be @ 5670, Hour Channel res/ 80% of last fall. & 5690-last high.
If resisted around 5670, it could retrace 38%-61.8%(5637-27-17) or could move down to complete the last leg of the corrective down.
Supports are @ 5619-21 Hrsma/DLEma & weak below it.
A decisive close above 20DMa @ 5680 would be a further conf. of ST reversal.
Hence, look for the resistances at open & its retracements for strength/ weakness of this market.
A move above "5650"-2 day High is strength.
First resistance would be @ 5670, Hour Channel res/ 80% of last fall. & 5690-last high.
If resisted around 5670, it could retrace 38%-61.8%(5637-27-17) or could move down to complete the last leg of the corrective down.
Supports are @ 5619-21 Hrsma/DLEma & weak below it.
A decisive close above 20DMa @ 5680 would be a further conf. of ST reversal.
Hence, look for the resistances at open & its retracements for strength/ weakness of this market.
49 comments:
Good Morning Gurudev and friends
Good Morning Master & Friends
Good Morning ,Sir and all Mates
Goodmorning master DR Ji and all JN friends,
It will take atleast few more years to write a Pre-market view as clear and crisp as yours.
Wishing you all Good Learning and Earning Day and Happy Karva Chauth.
Good Luck !!!
Good Morning Ilango Sir and Friends
Nifty Resistance levels: CLICK HERE
@master
good morning
this time JNSAR will show his power, will he out of whipsaw danger? please guide. thanks.
Good Morning Ilango Sir & all Blogmates.
Rgds
Saravanan
Good Morning all....
@S4S,
Should we keep considering WW pattern today or abandon it ?
Regards
Good Morning Ilango Sir & all Blogmates.
Master/seniors,
Since the market looks like opening with a Gap up and above JNSAR what should be the ideal way to cover shorts and go long.
Should I wait for some time or cover it on opening tick.
Regards and thanks in advance,
Sir
technical study apart the striking feature of this move from 5215 up and 5815 down is
price moves up in quick time
and moves down slowly
for 38.2 correction it has taken 90% of upmove.
This suggests bullish undertone and from a traders point of view going long at appropriate support levels looks the right strategy here on.
Sir Ilango ji and everyone good morning
Good Morning Sir & All Friends.
R/Ilango Sir Namaste n Namaskaar 2 all reader's.
Last two days have provided the "lower levels" to initiate longs for intraday during the current corrective phase.
For the day: Since the Hour channel res. comes closer to R1 of the day, the "higher levels" could be used to initiate "Shorts" with a small SL. And then follow it up with the retracements of 5583 to "morning's high". If fails to hold the 50%-61.8% retrace, it is likely to have more downsides.
"5659" WEma would be crucial for the day as well as Month Pivot/ Wk.Pivot @ 5673/75.
Good Morning Ilango Sir and Blogmates.
Master ilango and friends,
Good morning to all
Regards
Good Morning Master and copy to All
Good Morning Ilango Sir & Seniors
Contrarian view master?
Good morning
@ The_Unprejudiced_Observer,
When you don't get your levels to buy, you "either sell" or wait for "a retracement to buy".
Namaste Ilango Sir and fellow bloggers
LV
Namaste Ilango Sir and JN Family.
Good Morning Master Mr.Illango, Master Mr.Dinesh Rishi & Blogmates. Have a Happy & Prosperous Day.
gm sir and all friends.... Nifty Spot Hawala is 5705 and bank nifty is 11615..... thanxs all
ATR Based trading signals
Buy Zone : From 5616.05 to 5601.55
Breakdown below : 5598.65
Sell Zone : From 5674.05 to 5688.55
Breakout above : 5691.45
Breakout target : 5775.9
Hi all! Yesterday Sriram was saying shorts aren't safe as prices are above 5 Day EMA. Good teaching, I liked that!!
GM Prashant Shah, After a long time :)
GM SIR and friends :)
Happy "BABY BULLS" to remember the following -
Monthly 50% FIBO - 5699 61 % 5671
CAM - Short - 5683 Long breakout - 5747
HAWALA spot - 5705
WEEKLY 50% 5681
CAM SHORT LEVEL H3 5686
Just for information.
***Just for Paper Trade/Observe/Watch***
Camarilla Modified Approach on GAP days.
::Variation::
Today Open instead of Previous Close.
::Nifty Spot::
H4@5723
H3@5710
L3@5684
L4@5670
***Just for Paper Trade/Observe/Watch***
GM Everyone.
prashant shah said..
Nifty Spot Hawala is 5705 and bank nifty is 11615..
What does this exactly mean. Thanks
With Pranam to Master,
First Anniversary Gift for all -
Link
@Sujatha,
Daily chart Swing 5216 to 5815
0.382 @ 5587 [Done]
Intermediate Wave 5690 to 5583
retracement violated!
Changed Mind Today...
Good morning Sir and dear blog-mates.
Sir the retracements come at 5654 and 5650.
So the market should protect these numbers for upmove.
@ Nilesh Deshpande sir. The market has moved from ATR breakout to sell zone any suggestions of how to handle this please if time permits.
please anybody have zerodha phone nymbers not open my platform phone also not lift
For the last few months, taking longs in Nifty & shorts in USD-INR for Friday morning opening moves have been profitable.
I can vouch for the USD-INR from personal trading, but for Nifty perhaps some other member can enlighten us.
Let the pattern continue as long as it does. :D
Dear Violet try this number
+91 80 4040 2020
Namaste Dear Master and all friends
have a nice day of trading
Fire,
Kindly give ur view on USDINR? I m waiting since yesterday.
thank you sie
Dear Fire,
Thanks for the article. If possible could you pl. change the font color. Find it hard to read..
Dear All,
Someone please educate me on the following numbers when time permits
prashant shah said..
Nifty Spot Hawala is 5705 and bank nifty is 11615..
@Ilango sir,
Sir what should be the stop losss for shorts from here?
Dear Fire
thank you for the anniversay gift on RSI- further deep study. best of regards
New Post Done.
Good morning to all @ Wallace Hawal is Previous series closing price for instrument..i.e NS closing price on 25th oct which was last expiry for fno oct series
**hawala
so shorting closer to 5605 ns with SAR @ 5605 since jnsar is long
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