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.

July 19, 2011

Analysis for July 19

Strength : 5 Ema is above the 5SMA.
                Found support near 20DMA at 5551
                Closed above all Lema's

Weakness : Closed below all HEma's and all Close Ema's and all Pivots. The rising wedge Line was penetrated downwards today.

Nifty is weak below 5553 which is the 20DMA and Day Lema. Pulling down NS would again scamb;e for support at 5505 50 DMA and below that it would test the WLEMA at 5468

Action Plan for july 19
Buy above 5570 SL hourly closing below 5550 DLEMA and 20 DMA 
Sell below 5555 with Hourly close above 5570 100DMA and above DLEMA


               

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