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.

December 4, 2013

NIFTY ANALYSIS

Though Nifty has closed above all the Day TF parameters, it could not breakout from the resistance of 6225-6230 levels.


Breakout above the Cluster at 6225-6230, Nifty would initially reach 6270 resistance levels.


Holding 6130 levels, 6250-70 is possible.

DAY VALUES      
HIGH 6225 5 EMA 6164
LOW 6191 5 DMA 6149
CLOSE 6202 10 DMA 6104
HI EMA 6185 20 DMA 6118
LEMA 6131 200 Hr MA 6153

TRADE STOPLOSS REASON FOR Stoploss
Bought at 6050NS on 26/11 EOD close below 6130 Day LEMA/5Week SMA
Part booked at 6180NS/6225NF on 29/11/13    

Aggressive buy is possible at 6130-6140 levels with strict SL @ 6120 Hourly close.




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