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.



Sunday, 8 July 2012

Observations for 9th July 2012

EOD chart till 7th July



Blue horizontal TL at 5342 is very important one in ST as we see numerous places prices have touched this TL . Opening above this TL means we are further going up to atleast the Red TL you can see which comes to around 5400 lvls.

Things to keep in mind :
  • Trend is up in all TFs
  • We are trading in an upward channel very close to Upper TL.
  • Hanging Man seen after an uptrend in EOD chart.


    • Hour charts below says IF we do not cross 5330-5345 zone and trade above it then we may very well go to the black TL connecting the recent lows .

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Apart from Nifty was browsing through some charts and came across Renuka sugar .
With my limited understanding of charts , I feel its a good buy for MT.
pls do your own research before putting  a single penny on anything suggested in any of the blogs .


 

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