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 19, 2012

Analysis for Oct 19

Intraday Update 2.30 PM:
Trailing the Stoploss for the Shorts taken to Hour close above 5680 - 10 DMA/5 DMA

October 18, 2012

Analysis for Oct 18

Nifty closed below 5 EMA but above Day LEMA - extending the trading zone.

Today's important levels to be watched:
Day HEMA - 5705
Day LEMA - 5645
Day 5 EMA - 5670
Day 20 SMA - 5680.

Trading above 5705 and an Hour close above it would favour Upmove -
Trading below 5645 and an Hour Close below 5645 would favour downmove.
5715-5635 - Trading time.

WEEK CHART:

October 17, 2012

Analysis for Oct 17

INTRADAY UPDATE 3.15 PM:

Developing 5 EMA - 5666 , Day LEMA - 5645 - A likely close above Day LEMA but below Day 5 EMA. Again a narrow trading range. 20 DMA is 5679. SL for shorts EOD close above 5680.


Analysis for Oct 17:

Owing to global cues Nifty Might give a gapup. If trading above 5715 - day HEMA - initially an Hour close above 5715 -  then strength in upward move.
The Channel resistance comes to around 5705-5710.
Breakdown below 5635. Trading oppurtuinities will continue between 5710-5635 - Between Day HEMA and Day LEMA.

EOD close above 20 DMA - 5675 would favour Bulls.
A definite Close either below the Day Lema or above the Day HEMA - would decide further moves.


October 16, 2012

Analysis for 16 OCT 2012

INTRADAY UPDATE 3.00 PM:
 The fastfall has had its effect pushing nifty to 5635. An EOD close below the Day LEMA - developing 5650 - then More falls in on cards. A Close below 20 DMA - would give a pause to the Bulls. Shorts SL at 5680 - just above 20 DMA.

Analysis for OCT 16
 Nifty resisted from Day HEMA travelled down upto Day LEMA. Breakdown of contracting triangle below 5650-40. Breakout of Contracting triangle above 5720. The Trading range would continue till the range is resolved.

In Hour charts the MA's are alligned bearishly, with a fast fall set up between 20, 50 and 100 MA.

October 15, 2012

ANALYSIS FOR 15 OCT

Nifty opened lower and till now could not sustain above 20 DMA - 5766. Struggling for support at Day LEMA @ 5658. If supported at Day LEMA first it would move towards 20 DMA and then towards Day 5ema -5690. Initial Strength returns on two Hours' close above Day 5ema @5690.

The charts indicate breakout only above 5700-5705. A breakdown below 5640 would be a descending traiangle/Head and shoulder breakdown.

WEEK CHART: