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 19, 2011

Analysis for Aug 19


















This chart is from jan 2010 onwards. The trendline support comes to 4876 for the day - current week's S1 - break of which would lead to 4777 - 38.2% retr of the move from 4786 - 6338.

Trading above the Day pivot of 4985 would give some strength for intraday.

Owing to weak global markets NS is likely to gap down and if supported at the trendline at 4876, then the fibo retracement to be watched from 5077 - 4876 would be,
23.6%  = 4938,
38.2% = 4965
50% = 4985 - coincides with day Pivot.