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 24, 2012

Analysis for Feb 24

INTRADAY UPDATe 11.00AM:
BULLISH CROSSOVER IN DAY MA CHARTS:



Intraday Update 10.45 AM:
INitiating an Agressive Buy for Intraday at 5485NF/ 5442NS  with SL Hour close below 5430 NS.


Intraday Update 10.30 AM:
Partbooked at 5458NS trailing the SL to Hour close above 5482 Day LEMA.

ANALYSIS FOR FEB 24:
Nifty Has closed below the Week Pivot lvels and Day Pivot/Day HEMA and Day 5EMA.

Important Support levels for the Upmove to continue:
100 Hr MA -      5438
Week HEMA -   5445
Month HEMA - 5417

Important Resistances:
Developing Week Pivot - 5522
                   Day 5EMA -  5511
                      50 Hr MA - 5522
                   Day HEMA - 5566

BEARISH SHARK PATTERN WEEKLY TF:


Bearish Shark pattern:OX - 5740 - 4720
A = 5400 = 61.8%retr of OX
B (current) = 4531 > 113% retr of AB & equal to 127% retr of OA
Proj for C:
113% of AB - 5512.97
88% of OX - 5623 - DONE

The initial target of 5630 - corresponding to the 88.6% retr of the leg OX is achieved.

Nifty has made a l;ow of 5457 NS corresponding to the channel support in weekly charts. On  close below this level - corresponding to week HEMA - firther porjections can be made for downsides. HOLDING ABOVE 5450 LEVELS THE UPMOVE IS LIKELY TO CONTINUE FOR TARGETS NEAR 5700++



DAY channel chart:

Hour chart:
Nifty is trading between 50 HR MA -5522 and 100 HR MA - 5438. Break below 5438 more downsides
 possible.




HOUR CHANNEL:


AGGRESSIVELY SHORT FROM YESTERDAY AT 5510NS WITH TODAY'S SL CLOSE ABOVE DAY 5EMA - 5515NS


Week levelsweek Developing levels
CLOSE5564CLOSE
PIVOT5507PIVOT5522
HI EMA5356HI EMA5445
LOW EMA5146LOW EMA5251
5 EMA53175 EMA5392
5 SMA53055 SMA5172
PrevHigh5607 High5630
Prev Low5351LOW5461



CHECK LIST-DAY
CLOSE54835 SMA5536
PIVOT54945EMA5511
HI EMA556610EMA5473
LOW EMA548213EMA5441
prev HI553726EMA5308
prev LOW546150 Hr MA5522
100 DMA5016100 Hr MA5438
50 DMA5024

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