This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.

August 14, 2015

BANK NIFTY ANALYSIS

Intraday Update 11.30 Am:
BN found support at 18100 levels and has reached the 200 DMA.


TRADE PLAN:

Book out Longs and short with EOD close above 18510 - 200 DMA. OR Trail SL to 18350 -50 DMA - Hour Close.

Pre market View:

Two Scenarios' in play:
Bullish - c.B ended at 18034 and a new wave has started.

Bearish : iii ended at 18034 and ongoing is iv. C.iv is pending and likely to resist at 18350 - 50 DMA and fall to form new lows below 17900


SL for Positional Longs trailed to yesterday Low Book out at 18310 - 350 spot.

Sell at 18350 spot levels - SL EOD close above 18350 - 50 DMA.



August 13, 2015

BANK NIFTY ANALYSIS

Pre market view:

Bank Nifty Has reached its crucial support of 18050. If supported intial resistances are -18150 crossing which next major resistance is 18350 -50 DMA.



 

Trade Plan :

Buy above 18100 SPOT / 18200 Futures SL EOD close below yesterday's low. Book out at 18350 -50 DMA.

August 12, 2015

BANK NIFTY ANALYSIS

INTRADAY UPDATE : 3.00PM:
The fall from 18500 - has reached upto 18100 - almost nearing the target of 18050 -a=c condition. The fall has been perfect within a channel in five waves.


August 11, 2015

BANK NIFTY ANALYSIS

Bank nifty for the 5th consecutive day has found resistance at 19050 and support at 18900-800. There are both Bullish and Bearish Prospects in contention - Typical of a B Wave. Yesterday EOD close was below 18900 - signalling weakness. But it is above the TA parameters such as 10 EMA,10DMA and 5 Low EMA.





Trade Plan:
Sell below 18900-18950 - Sl two hour close above 19050 - Day HEMA
Buy above 19050 day HEMA - SL two Hour close below 18900

August 7, 2015

BANK NIFTY ANALYSIS

BANK NIFTY IS AT MAKE OR BREAK level. The Previous range between 19000 - 19800 has shifted to 19100-18900.

BEARISH VIEW: Breakdown below 18900 - would take it down towards 18800-750.

BULLISH VIEW- A typical Inverse Head and shoulder pattern has formed with breakout above 19100 SPOT LEVELS.





August 6, 2015

TATAMOTORS ANALYSIS

Tatamotors has corrected approximately - 50% from its High of 602 - to  364.

A Huge Falling wedge is in formation with Positive divergences in 14 RSi and Slow MACD. The falling wedge would Breakout above 385 - and the initial target would be 420-425 - at which the wedge would become a Channel. Breakout above this level of 420 would be highly Bullish.

This level of 385-390 is the previous support - turned resistance. So, if resisted - would retreat fast towards - 360-355 and also If the resistance is taken out the target would be 420.




BANK NIFTY ANALYSIS

Intraday Update 2.00 PM

The Diamond pattern became a busted pattern and again today support well found at 18830 - SPOT levels.
19050 spot- knocking for the fourth consecutive day - CAUTION with SHORTS.