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 25, 2011

Analysis for july 25

Strength: NS closed above all 5EMA's, Low EMA, Pivots and Day Hema. The 5EMA has moved
               above 5SMA.
Weakness: NS closed below the Month 5EMA and Week High Ema.

NS is likely to find support at 5600-5610 20 DMA and holding this NS would attempt to reach the 5730 50 DMA.

Only on a close above 5647 - week Hema and previous high, NS would reverse to Uptrend. Else it would be range bound between 5647 - 5555. A firm close below 5555 would confirm downtrend.

Intraday Weakness would set in with an Hourly close below 5620 - Day Hema and a day close below 5620 would set a short trem Weakness in Daily TA

Action Plan for july 25:

Buy above 5625 with SL hourly close below 5620. Part book at 5650-80 levels. (Trendline resistance)
Continue longs above 5680 with revised SL at  hourly close below 5645 - Week HEMA

Sell Below 5620 with SL houly close above 5625.   tgt - 5595,5585,5575,5555

Continue Shorts below 5550 with revised SL Hourly close above 5560.

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