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.



Saturday, 8 September 2012

Infosys

Last close 2487
 
TA which says Bullish ,
 
Week trend Up with momentum , with a close above WHema 2434.
Day High ema 2430 , Hour high ema 2484
Indicates trending Up .

 
EW counts
from 2101 Up  ,
 
a 2101-2483=382
b 2483-2332=151
possibility of c on in 5 waves Target can be ,

c 2332-** (  2714 if =A,) ( 2568 if = .618*A) Bullish
 
SS turning up from lvls close to 20  Bullish
 
Macd(  34 5 5) turned up near to 0 lvls Bullish with a + crossover . Macd Histogram also showing momentum .
 
Some charts to support my observations .....









Bearish Observations :

I see -ve divergence developing in hour TF
Hour TA is OB .
Gap ahead which may act as resistance .
If I join the top 3469 to recent low and Draw a || el line tangential to extreme move between the move , we are right at it presently , If we cross this and prices trade above this then this would act as good support . If not then down again .


 
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