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, 21 March 2012

EOD 21st march 2012

Close at 5365 .

The simplest of trading system says to be Long
Reason :we closed above 5Day ema .

Let me write down the important nos .

Having closed above 5Hema and 5Dema and 5Wema ..The trend is UP in all three Time Frames .

Hour high ema is 5343 and momentum is clearly up in Hour TF.
As we closed above Dlema , " Buy on dips to high ema " has already played out , If prices close above day high ema now , Momentum will be up in Day TF as well and then one can safely hold the longs .

Bullish Zero line crossover :

Fast Rise ?

In day TF 5 ema has again taken a support of 34 ema . 13 and 21 ema almost at the same lvl . crossing these two lvls will be good for longs .
5ema at 5329 and 10 ema at 5337 .

Candle pattern :

i feel today was a  Marubujo  and its meaning A White Marubozu forms when the open equals the low and the close equals the high. This indicates that buyers controlled the price action from the first trade to the last trade.
Lets see what tomorrow brings !

Nifty Day chart.


dayakar said...

Dear smita,
good evening.
is it 3rd wave. started from 5233.
can you analyse in that direction.
also kindly visit my blog now and then and advice.
thank you.

Smita said...

Dayakar ji ,

Have uploaded one of the possibilities here on day chart.
Lets see what tomorrow brings for our small longs .

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