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 2, 2011

Analysis for Aug 2

NS closed above all Lema's.
NS closed below the pivots and Hema's.
break and close above 50 DMA @ 5520 is essential for the upmove at the same time close below 5495 Day lema and 5482 - Week Lema would set weakness.

The trading range would be resolved between the Day Hema and Lema - 5565-5495.

Action Plan for the Day:
Buy above 5520 - 50 DMa with Hr Cls blw 5495 - Day Lema
Part book near 5555-5560 Day Hema
Sell below 5550-60 with SL hr cls abv 5570 Day Hema
Sell below 5490 with SL Hr cls above 5505 - Day Lema

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