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 28, 2011

Analysis for July 28

NS has closed below all pivots, 5ema's and Day Lema
Owing to weak global conditions market might gap down and try to find support at 5505-10near 50 DMA - failing which would lead to further weakness and if the previous low and week Lema of 5496 is conquered, then 5404 - month Lema is on cards.

Action plan for today:

Sell below 5550 - Day Lema, with SL Hrly close above 5555
Part book near 5500 levels.
Add shorts below 5490-80 with SL Hrly close above 5510 - 50 DMA

Buy above 5555 with Hrly SL below 5550.
Posted by at

No comments:

Post a Comment