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.

August 30, 2011

Analysis for Aug 30

Nifty has given a decent bounceback from its Low of 4720. Being the last day of the month and two days consequtive holidays booking out at certain levels would be a necessity. The important numbers to be looked at would be,

Month Pivot : 5064

Week     Pivot        : 4887
                Lema       : 4960
               5EMA     : 5023
              

Day        Pivot        : 4887
               5 EMA    : 4872
               5 SMa     : 4869
               Hema      : 4932
               20 Dma   : 5080
              


Hour        50 SMA  :4875
                100 Sma  :4982

Intraday trading range:
Considering possibility of a gap up, the immediate SL for the current Longs would be the Day Hema @ 4932. Holding this the trading range would be 4932 - 4960 - 4980 - 5023 -5064.

61.8% retr Fibo level for 5194 - 4720 is 5006.




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