| CHECK LIST-DAY | |||
| CLOSE | 4861 | ||
| PIVOT | 4860 | 10EMA | 4770 |
| HI EMA | 4823 | 13EMA | 4763 |
| LOW EMA | 4759 | 26EMA | 4777 |
| 5EMA | 4804 | prev HI | 4877 |
| 5 SMA | 4791 | prev LOW | 4842 |
| 200 Hr MA | 4774 | 100 DMA | 4941 |
| 100 Hr MA | 4736 | 50 DMA | 4879 |
| 50 Hr MA | 4767 | 20 DMA | 4716 |
Today Nifty has made a low of 4804 corresponding to the Day 5 EMA.
ST Bullish scenario: A crossover of the 20 & 50 Hr MA over 200 Hr MA. NS has retested the trendline from which the breakout took place at 4804. Supports here would lead to good moves.
Bearish Scenario: Trading well below the 50 DMA.
6 comments:
Hi Satheesh,
Thanks for the charts. Looks good.
I am new to the market started learning many technical analysis. I was not able to successed any of the methods. Can you guide me.
Please let me know are you from chennai?
VK
@ Vikpuramstock -
If one follows many methods in trading it would definitely lead to a mess. Stick on to one single method meticulously and you will definitely win.
Thanks Satheesh.
Which one you suggest elliott wave? Different alternative counts mess the trading plan. I was expecting down leg below 4800 level but crossed 4825 and take to higher level. Before work on the next counting, market in higher level.
Recently started following JNSAR. Can you suggest how to setup Amibroker.
VK
I do not know anything about Amibroker.i do not use any real time feed charts. I create charts in excel.
As Ilango sir says EW helps in guiding and navigating thro market. Combine it with TA and you get good trades. Also By following JNSAR I think You must be a positional trader. So no problem. Keep going with all confidence!!
Dear Satheesh,
Your charts with 20 50 100 and 200 sma of nifty are wonderful.
Could you help how can we get them live ?
@ Manish,
Thanks. I do not know anything about Real Time Data charts as I do not use them. I create all my charts in excel. I use chart nexus for EOD data where we get Daily/monthly/weekly data for three years.
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