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.

July 20, 2012

Analysis for July 20

BANK NIFTY WEEKLY CHART UPDATE:



Close below the TRENDLINE would pull Bank Nifty further down near the Base of the Triangle formed - and the Lead indicator alsois in favour of it.
If supported then, a very Big upmove is possible as the pattern is  an Inverse H&S with slope tilting dwonwards. The Breakout will be very sharp.

ANALYSIS FOR JULY 20:
Nifty did not show strength in the upmove yesterday terminating at 50% retracement at 5258. The Breakout from the Falling wedge (CLICK HERE) was resisted by a channel.



Week Chart:



The Lead indicator has turned down and the break down of the Low of 5170 would be a channel breakdown, below Week 5 EMa, Day LEMA and 100 DMA.

With an EOD close below the week 5EMA 5220 and Day Lema of 5209, Nifty would get Bearish. The Longs are to be terminated at such a juncture.

Sell  @ 5165 ranges with SL 5190-5220 EOD close.



Developing Week Levels
CLOSE
PIVOT5223
HI EMA5266
LOW EMA5143
5 EMA5220
10 EMA5179
PrevHigh5258
Prev Low5169



CHECK LIST-DAY
CLOSE52435 SMA5215
PIVOT52455EMA5229
HI EMA525310EMA5237
LOW EMA520913EMA5234
prev HI525820 Hr MA5215
prev LOW523350 Hr MA5241
10 DMA5256100 Hr MA5268
20 DMA5235200 Hr MA5195
100  DMA5167
200 DMA5093

July 19, 2012

Analysis for july 19

Nifty has  found support at the 100 DMA levels yesterday and has closed above the Day Lema and Day 5EMA.


50% positional shorts were booked out at 5190 levels yesterday and aggressive longs initiated at the same levels with SL below 100 DMA. and today covered the rest in opening 5250NS.

 Retracement to be watched for the Longs taken -                   50% -5259
                                                                                               61.8% - 5280
                                                                                               78.6% - 5310
                                                                                               88.6%- 5328

Buy again in ranges of 5200 levels with SL 5180 EOD

Today EOD close below the Day HEMA below 5250 would set in weakness again.


CHECK LIST-DAY   
CLOSE52165 SMA5214
PIVOT52035EMA5223
HI EMA525010EMA5235
LOW EMA519713EMA5233
prev HI522320 Hr MA5206
prev LOW516950 Hr MA5249
10 DMA5264100 Hr MA5266
20 DMA5231200 Hr MA5189
100  DMA5169  
200 DMA5092

July 18, 2012

Analysis for July 18

NIFTY LEVELS:
Important Resistance - Day LEMA and Day 5EMA - 5210 - 5230
Important supports - 100 DMA and 200 Hr MA- 5170-5185

Total weakness below 100 DMA would lead to 200 DMA at 5090-5100.
If EOD close above 5230 - then apause in Down move.

So SL for the Positional shorts taken at 5330 levels trailed to EOD close above 5235 - 10Points above Day 5 EMA



CHECK LIST-DAY   
CLOSE51935 SMA5232
PIVOT52045EMA5226
HI EMA526310EMA5240
LOW EMA521213EMA5235
prev HI523720 Hr MA5222
prev LOW518250 Hr MA5262
10 DMA5273100 Hr MA5263
20 DMA5226200 Hr MA5183
100  DMA5172  
200 DMA5090