This is my trading file to organise and jot down my take on the market .I do Technical Analysis. This blog is to keep track of my baby steps so that I can look back at my journey .Looking back tells me how far I have come from days when I knew nothing and can go further .It gives me motivation to keep going on even when I am tired. One has to back up trading with their own studies. The charts I post here are 99% inspired from Ilango sir.



Tuesday 27 December 2011

27th dec 3:00 pm

At 1 pm close , prices did close (4754)below the hour low ema (4763) and thus selling .

prices did go to 4723 low so 30 points gain till now Look at this set up of sma(s) and notice how  20 sma and 100 sma are now touching , if from this point if nifty falls making 20 sma fall( which was rising from last few days now) then this will be fast fall setup .

Another sell generated at 3:00 pm close when the 20 MA chart gave a sell signal to me .Prices move and close below the hour low ema . ( red line crosses the yellow line). 

I see Weekness

11:45 am
Prices have moved below Hour High ema at 4788 at 12 'oclock close let us see if it closses below this lvl .
Next is Dhema @ 4770 and then HLema @ 4766 developing is around 4769.
14 Rsi , Fast macd showing -ve divergence most of indicators at OB zone.

I will "SELL" if prices close below the hour low ema .