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.

March 11, 2011

EOD march 11

Nifty trending within channels. Has found support exactly at the channel bottom. 

Bearish flag in 5min NF

Week: Nifty found support exactly at 5SMA(5411) but has closed below 5EMA 5459
Day: Nifty has closed just at 21 DSMA (5444) but below 5EMA (5483)
Hour: Nifty has formed a Descending triangle and the Hr. SMACD has moved into the negative territory indicating bearinshness.

Strength: Nifty has closed above all LEMA (Hour, Day, week and Month)
Weakness: Nifty Closed Below all 5EMA's, and all Pivot points
Analysis : weakness more prevalent than strength. Strength return only after closing above pivots, 5EMA's.
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