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.

Wednesday, 14 March 2012

Camarilla Update for 14th March

Stock name Nifty 13th March 2012
Open     5,391.05
High     5,438.65
Low     5,391.05
Close     5,430.00
HL5  5477.944 Immediate upside target after Break Out Immediate lower target after Break Out LL5 5,382
HL4 5456.199 Break Out on the Upper Side Break Out on the Lower Side LL4 5,404
HL3 5443.099 Go Long above these Go Short Below These LL3 5,417

We open at 5491 which is above H4 (  even H5)

Scenario 4: Open price is above H4
To enter long position (i.e. To Buy)
o NA. Buying is not suggested in such scenarios.
To enter short position (i.e. To Sell)
o Wait for the price to go below H3. As soon as the price moves below H3, sell
or go short.
o Stoploss should be placed when price moves above (H4+H3)/2.
o Targets : Target1 = L1, Target2 = L2, Target3 = L3.

So we wait for the prices to go below 5443 and then short there .That is good 30 points below the current level 5473.

Updated at 11:45
So prices break 5443 and our sell generates with a 20 points SL at 5463 .

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