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.

December 18, 2013

NIFTY ANALYSIS

Nifty closed below 50 DMA and all other Day parameters yesterday.

DAY VALUES      
HIGH 6191 5 EMA 6187
LOW 6133 10 EMA 6203
CLOSE 6139 5 DMA 6201
HI EMA 6227 10 DMA 6237
LEMA 6177 50DMA 6142

Hour TF is Highly Oversold exhibiting + ve Divergence.




The Last hope for the Bulls is Holding on to 6120 levels. Break down of 6120 would be a catastrophe.

Weekly Supports: - Week 5 SMA - 6131
Day Supports - 50 DMA - 6142

TRADE STOPLOSS  REASON 
buy above 6150 EOD close below 6140 50 DMA
Sell below 6140 EOD close above 6150 50 DMA
Prudent to wait at least for 2 hour close above 5140 to initiate a buy    
Prudent to wait at least for 2 Hour close below 6150 to initiate Sell

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