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 7, 2011

WEEKLY ANALYSIS FOR MAR 07 - MAR 11 2011


Day Chart:

1. Move above 5625 will negate the possibility of 4th of 3rd wave. i.e., 3.4. It confirms that the 3 wave is over at 5177 and now the 4th wave is on.
Wave 1 = 6338.5 - 5690
Wave 2 = 5690.8 - 6181
Wave 3 = 6181 - 5177
3. If moved above 5624 then min 1tgt = 5654 = wave A = 50 day MA
4. If moved above 5654 then 5690 must not be surpassed for the 5th wave move down - as it will negate the possibility of 5 wave down move and the ABC correction is over at 5177

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