Trailing the Stoploss for the Shorts taken to Hour close above 5680 - 10 DMA/5 DMA
ANALYSIS FOR OCT 19:
Yesterday Nifty was Pushed upto 5720 levels - the major resistance but closed marginally above Day HEMA.
Important Parameters to be watched for today -being week's close:
Developing Week Hema -5707
Week 5 SMA - 5707
Day HEMA - 5711
Day 5 EMa - 5686
5 DMA - 5678
10 DMA - 5688
20 DMA - 5686.
Both Bullish and Bearish Possibilities exists and today's EOD/Weekly close would be the deciding factor.
BEARISH FACTORS:
1. The 10 DMA has moved below the 20 DMA - indicating weakness and also the three MA's are bearishly alligned.
2. A Rising wedge breakdown in weekly charts
3. The Week 5D indicator has given a Sell and is in the OB region with a Value of 75.
BULLISH FACTORS:
1. Nifty has closed above all HEMA's and 5 EMA's.
2. In weekly charts the top triangle can be considered as a Pennant which is a continuous pattern and is likly to take Nifty to 5850 levels on a Breakout and EOD close above 5730.
SYNOPSIS:
Aggressive Shorts below 5720 with Tight Sl - 5735 NS
Buy above 5730 with Sl 5700Below Week /Day HEMA
An hour close below 5700 would be the first onset of weakness.
8 comments:
G00D MORNING AND THANKS SISTER
YESTERDAY I TAKEN SHORTS @5717.NF. NOW WHERE I HAVE TO SQARE THE SHORTS.PLEASE SISTER.YOUR ADVICE. THANKS.
10 DMA 5675
Developing week 5 EMA - 5668
Developing 20 DMA & day 5 EMA is 5680.
An EOD close below these would give way for more falls.
Resistances are,
Week Hema -5707
Day Hema - 5707.
Book your positions or trail SL as per resistance.
One sincere request. Please do not take ask any advice from me. I just trade based on TA parameters combined with patterns.
Please plan your trade before excecuting it.
THANKS SISTER.
I COVERD MY SHORTS @5690 NF.I WILL FOLLOW YOUR FEELINGS.
THANKS FOR YOUR TIP.SISTER
I might not be available for the next week. I shall update whenever it is possible.
GOODMORNING SISTER and A HAPPY AND PROSPORUS VIJAYADASAMI
in advance.
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