Following the prices, we found the prices "Pausing near S2:5674" and rallied to 5720 initially & then retraced 61.8% @ 5691 & rallied again past the 80% of last fall from "5761 to 5676".
Now, we look for a higher retrace for the next big fall from "5861 to 5676", holding "5691" and if Nifty surpasses "5824", it is likely that 1st fall from 6093 is completed & Nifty is in its corrective 2nd wave.
Considering the higher T/F weakness, sharper falls would be confirmed only if Nifty closes below "WLEma @ 5771" tomorrow.
Hence, the tussle would be centered around "5771".(also 21 Hr sma/ DLEma).
Wishing you lots of confidence & peace in your trading room.
Now, we look for a higher retrace for the next big fall from "5861 to 5676", holding "5691" and if Nifty surpasses "5824", it is likely that 1st fall from 6093 is completed & Nifty is in its corrective 2nd wave.
Considering the higher T/F weakness, sharper falls would be confirmed only if Nifty closes below "WLEma @ 5771" tomorrow.
Hence, the tussle would be centered around "5771".(also 21 Hr sma/ DLEma).
Wishing you lots of confidence & peace in your trading room.
34 comments:
Good morning Ilango sir & all...
Good Morning Ilango Sir and Friends
Reliance Communication Chart Analysis: CLICK HERE
Good Morning Ilango Sir and All Seniors and Friends
Good Morning, Ilango Ji
Namaste Ilango Sir and blog friends
LV
Good morning Ilango sir & all blogmates,
Rgds
Saravanan
good morning Ilango sir and everyone in this blog.
Goldman Sach downgrades India
Very Good morning sir & friends
Good Morning Sir & All Friends.
GM Ilangoji & all blogmates
Namaskaram Guruji and blogmates.
Vinay.
Goodmorning master and all friends,
Lead indicator too suggesting that the market has completed correction and look forward to a zig zag corrective in wave ii.
Jai Ho!!!
GOODMORNING SIR AND BLOGMATES
gudmorning master and all frnds
Good Morning Master & Friends
Sir ILango ji charan vandan and everyone good morning
Good Morning Master and Friends.
Good Morning Sir & Blogmates,
Have a Happy & Prosperous Day.
-
Camarilla - Nifty Spot
H4@5784 ↑
H3@5763 ↓
L3@5721 ↑
L4@5700 ↓
Trade Wisely. Get Rich Steadily.
@ Ilango,
Do you see 34 EMA @5822 can act as resistance for thie first rally after such a huge fall ?
could anyone tell me were is "5771".(also 21 Hr sma/ DLEma) as said by sir i know i m making mistake somewere pls correct i can c 5771 as low ema wk and in chart 21 hr sma is given as 5780 hence the doubt
Nileshji...good morning...
as per our talk nifty resisted at R2!
Sir,
As trend is Sell on rises, should we sell @5790 (golden ratio trade as well) with SL 5825
At the same time nifty trading above H4,5784...
which gets higher priority? Sell based on golden ratio trade / 21 hr SMA/DLEMA as trend is sell on rises.
OR
Buy as nifty is above H4 with 20 points SL
Good morning Ilango sir & all blogmates.
Sir,
Missed to part book at lower levels yesterday.. so is the confusion
could anyone tell me were is "5771". as sir as given this value in pre market view (also 21 Hr sma/ DLEma) as said by sir i know i m making mistake somewere pls correct i can c 5771 as low ema wk and in chart 21 hr sma is given as 5780 hence the doubt
@ Anandha, rose mary,
Day & Hour TA have been oversold for sometime. And Month protected its LEma. These are signals for a ST bounce.
Looking at the bounce & various technical parameters, the bounce is likely to be for the entire fall of 6093 to 5676.
This bounce will not move up in one straight line. It will have counter falls too once the (a) wave is done around "5824-34 zone".
We still need to understand the quality of the bounce. The technicals in Hour has turned up; day would confirm by EOD.
Weekly downtrend would attempt to press down the prices towards 5771 either today or tomorrow.
sir
The bounce!!!!
Selling can have whipsaws as indicator giving confused signals and a swing low completed.
Dharmu, It is Weekly Low EMA. It is available under weekly row. More over Sir have clarified already. Hope it is clear.
@ deepak pinto,
ST indicators are clear in their reversal.
MT indicators are clear in their downtrend.
No confusion; it is a ST bounce.
Sir,
Retrace should be from 5676 to 5809
or from 5742 to 5809.
please advice
New Post Done.
GM Master & JN Family,
Bernanke is one son of a gun for sure ...
itna accha khwab dekha tha aaj ka, paani daal diya :-)
shukla ji thank u i made mistake in understanding
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