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.

July 11, 2011

Analysis for July 11

The Weekly closing has formed a spinning top candle showing indecisiveness. This week a breakout of 5740 would lead to more upsides and a break below 5600 - would lead to more lows.















On Friday NS closed below all Pivot points and Day Hema's. Also the 5EMA is below the 5SMA indicating weakness. A Close above the DHema at 5698 would give chances for more upsides and a close below day Lema 5622 would lead to more Lows.

Todays Action Plan:
Buy Above 5705 with SL 5690 ( -10Points DHema)
Short below 5700 with SL hourly close above 5705
Book shorts near 5622 - Day Lema
Add more shorts below 5615 with SL hourly close above 5625




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