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.

February 25, 2014

Nifty Analysis

intraday Update 12.30PM:
Tatamotors Hour chart update:
395 - has been knocked thrice today. Breakdown of wedge below 394. If supported then again towards 400+







Nifty analysis:
Bullish Possibility :Holding 6180 - 50 DMA the upmove is likely to continue.

Bearish possibility: A rising wedge has developed in Day charts - Resistance at 6210.

Rising wedge resistance @ 6210
Breakdown below 6150 - Day HEMA/100 DMA.

If supported at 6150 then upmove continues.




Part book Longs at current CMP - 6205 NS

Aggressive shorts continue with Stop Loss EOD close above 6210.


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1 comment:

satheesh said...

As far as Tatamotors is concerned, the range continues within 395-400. Breakdown of wedge below 394.5
Breakout of wedge above 400 - to continue to channel top near 404 levels.

February 25, 2014 at 10:20 AM

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