The breakdown of the 5min triangle would easily fetch 40-50 points!!
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.
May 25, 2011
Analysis for May 24
Month Lema is 5452 and the week Lema is 5458. Any upsurge - may be due to the +ve short term divergences in Hour charts - will face resistance at these levels!! The Day Lema is 5399 and pivot is 5395 - and trading below these levels would drag Nifty down and a brekdown below 5367 -yesterdays low would lead to heavy fall!!
Intra day range:
5368 - 5395 - 5410 -5455
Intra day range:
5368 - 5395 - 5410 -5455