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.

January 13, 2014

NIFTY ANALYSIS

TATAMOTORS ANALYSIS (CLICK HERE)

Nifty had a huge volatile session on Friday - surpassing the week's high and week's low but managed to close just above the week LEMA and 10 Week SMA - signalling buy in Dips and closed above the week HEMA indicating sell on rises. So Nifty is range bound between 6230 - 6130.

Friday's Day candle is a spinning top indicating indecision.

DAY VALUES
HIGH 6239 5 EMA 6182
LOW 6140 10 EMA 6203
CLOSE 6171 5 DMA 6174
HI EMA 6226 50 DMA 6192
LEMA 6159 34 Hr MA 6180
Current Week Values
HIGH 6239
LOW 6140
CLOSE 6171
HI EMA 6226
LEMA 6154
5SMA 6228
5EMA 6210

Aggressive Trade: Resell @ 6220 - 6230 levels with Strict Sl close above Day HEMA.
Positional Trade: Continues till EOD close above 50 DMA. 




No comments:

Post a Comment