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.

February 21, 2012

Analysis for Feb 21

Nifty though exhibiting Pause candles and reversal Patterns - continued its upward journey to make a high above 5600. The Higher TF's exhibit very good strength - This strength would continue to prevail till a weekly close below the week HEMA is seen. Holding 5350 in Weekly TF NIFTY is likely to move further upto 5700++.

Nifty has completed a weekly channel.






BEARISH SHARK PATTERN IN WEEK TF AND DAY TF STILL CONTINUING:


Levels to be watched:

5630-50 - 61.8% retr of the entire down move from 6338 - 4531.


Week levels 
CLOSE5564
PIVOT5507
HI EMA5356
LOW EMA5146
5 EMA5317
5 SMA5305
PrevHigh5607
Prev Low5351



CHECK LIST-DAY   
CLOSE55645 SMA5490
PIVOT55725EMA5499
HI EMA552310EMA5431
LOW EMA545913EMA5391
prev HI560726EMA5250
prev LOW554520 Hr MA5535
20 DMA530050 DMA4980
200 DMA5183100 DMA4996
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