EOD 26th July

After a week I could see the charts and first thing I notice is the +ve divergence in the hour charts ..

I could not work on EW ...

Hour low ema( 5065) Watch out on close above hour low ema  then hour ema (5072) for the positive divergence to play out.

EOD 17th July

We are trading with in the channel drawn  . Breakout above will be a buy , one has to wait for that.

Day TA ,, hour TA trend is down ...

Hour TF says

HH ema ( 5210)

34 Ema on 30 mins TF ( 5218) .

5ema (5200)

10ema(5208)

IF we break the black TL tomorow then idea of long gets thrashed . 5160/5140/5125 comes as next support.

 So UP it is , If we hold 5210 . Break out of falling TL ( green) with volumes .

And break of low today ( 5182-5180) takes us to support of 5160 and may be further down .

 I see +ve divergence in hour charts , prices have to confirm by breaking the channel top ( Green channel ) As seen in the above chart

For going Long :

As and when this 5-10 cross over takes place , my eyes will be on close above HHema and holding of close ema /Low ema on hour TF .

EW 16th July

Day EW.

Hour EW.

Another Break

Break from trading yet again , due to health problems ...
Hope to be back very soon !

Jai Maa Durga.

Trade plan for 12th July

So we open gap down , courtesy  the bearish candle pattern formed yesterday .

We made a low of 5234 and are maintaining that till 10 close ,
i have drawn a TL from the high today at 5262  , as and when we break this TL , along with ema crossover of 13-34 ,I will enter longs with day low as SL.
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Update at 12:30 Crossover on 5 mins charts never happened , and day low broken .This break did not give chance to enter as 2 mins candle shows high ( 5240) and low ( 5227). Trading below day low ema so downward momentum in on bringing lot of weakness in prices ...
Rising wedge , bearish "harmami" , all working together .

Stepping out for the rest of the day .......

Observations for 12th July

and a close up

We have formed a bearish " Harami" very close to the major resistance of 5343 lvls , as seen in the EOD chart . All possibilities that we are very close to  breaking the lower yellow TL and head down.
Todays day low was 5300...anything below this means Shorts it is .

EOD 10th July

We started with a positive note today morning with open above yesterday's close .
At 10 :00 with a close above HHema , it indicated momentum is Up in hour TF . At 12:00 With a break of yesterday's high and 5 - 10 hr ema cross over  , buy signal generated for the day. Which gave good returns.

Channel is intact as seen in the day and hour charts below

EOD 9th July

We opened below the TL mentioned in last post and also yesterday's low making the bias for the day -ve. Making a dip to Blk TL possible as  mentioned in yesterday's post  .

.Also at 10:00 hour TA was poised as

Here 5 - 10 Cross over happned along with a close below hour low ema . Increasing the Possibilities of prices going down .

Now with todays close weakness in hour TF has spread over to Day TF with a close below 5  Day ema  . 5261 is day low ema which was support today , if we break this then Downward momentum will pick ...and we may see prices touching the Lower red TL as seen in te hour chart.

In very simple way ,
If we open above the blk TL seen in the hour chart , bias will be UP and if we open below it or break it then bias will be down probably to touch  red TL.
Presently HOur TA down and momentum missing , Day TA turned down but momentum missing .

Observations for 9th July 2012

EOD chart till 7th July

EOD 5th July 2012

Chart Pattern :

We have a Bullish Engulfing today in day charts . With that I also see that we have not yet broken out of the upper trendline as seen in the chart below

Trading 5th July 2012

At 9:45 AM ,

We opened close to previous day close and
ORB says 5289-5302.

Also developing hour hour low ema is at 5289 .
30 min ema is also at 5287.

Support for the day lies at 5287 lvls and if we break this , then shorts can be taken with day high as SL.

Yesterdays high is 5307 breaking this lvl would suggest some upside so Longs can be taken with day low as SL .

Drawing TLs on different TFs and using that as trailing SL helps


P.S.I am not trading today , due to some personal work  .

Intraday 3rd July 2012

Presently we are trading with in the red channel on hour charts . The top of the channel acting as resisting TL .

Intraday day nifty spot charts looks weak as it is trading in a down channel since morning .

5287 NS holding as support .


Today morning when nifty made a lower high at 5311 and started going further down  ..I drew a trendline from the tops 5317 and 5311 . Took a short position keeping the TL as guide . Came out of the trade as my trailing SL hit.

2nd July 2012

Spent my weekend reading " The  complete guide to Day trading " by Markus Heitkoetter .
After I finished  reading one thing that I can't seem to forget is " A monkey can enter a trade , but money is made ( and Lost) when a Trader exits the trade " .

It seems all these books are written just for me .

Before one starts to trade one has to know
First and foremost is to determine the Trend . When the trend is Up , avoid selling and vise versa.
Make small but consistant profits .
One HAS to close the trade if either Target Hits or SL hits. NO staying on for a bit longer.
Discipline and Patience is the KEY to success.
Keep your trading as simple as possible .

having said that lets get to the charts ....
Following is the day chart with trendlines drawn from recent low of 4770