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 5, 2011

Analysis for July 5

Strength : Nifty has closed above all High EMA except the month Hema

Weakness: NS has closed below Day Pivot and 5EMA  (5603) is below 5SMA(5614).

Today if  NS trades below the Pivot of 5654 and Closes below the Day Lema 5637 there will be Short term reversal else - the uptrend will continue. The 200 DMA is 5745 and Nifty is likely to get resisted at that juncture.

Supports could be found at 5605 - 5585 -5570 Day EMA and Week EMA.

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