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 7, 2014

NIFTY ANALYSIS

For TATAMOTORS ANALYSIS - CLICK HERE

Nifty is finding support @ 50DMA and managing to close above it. It is hovering between Day LEMA and 50 DMA. Breaking of 50 DMA at EOD will drag Nifty down to lower levels.






If Nifty Moves above 6230 - above Day LEMA, then it would be moving past the trendline - resuming a pull back. If resisted again at 6230 levels and closes EOD below 6190 - 50 DMA - bearishness would be prevalent.

TRADE STOPLOSS  REASON 
Sold @ 6210NS/6235NF on 3rd&6th
jan		 EOD close above Day LEMA Weekly channel Breakdown
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