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.

October 22, 2012

Analysis for Oct 22

IMPORTANT TA PARAMETER TO WATCH TODAY:

STRENGTH ABOVE -

5693 - 20 DMA
5700 - WEEK 5 SMA
5711 - DAY HEMA

WEAK BELOW:

5651 - DAY LEMA & TRENDLINE SUPPORT (REFER DAY CHART BELOW)
5657 - WEEK 5 EMA

Nifty trading between 5700 - 5650. Any breakout/breakdown of the levels would lead to huge moves. Currently Day trend is down with a close below Day 5 ema and Day HEMA.

So trailing the SL for shorts to 20 DMA - close above 5695.





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