EOD 9th March 2012

We closed at 5334.

Lets look at some important lvls  ,

5323   5Hour ema
5329   Hour Hema
5258   Day Lema
5294   5 Dema
5342   DHema
5348   5Wema
5323   Monday Pivot.
5326  10 Dema
5329  21 Dema
5277  34 Ema

So we closed above most of these important lvls , except the DHema ( 5342) and 5Wema ( 5348) this is keeping the weekly trend still Down , But with todays close the Hour and Day trend are UP.

Moving Average:

If one takes position with hourly close then 10:00 close gave a buy signal today at 5313 in the morning with a close above hour high ema , but then it was a good Gap up as well ...so took support of  ORB as well. This also gave a buy signal as it broke it to upper range.

Divergence :

Take a look at the chart below ....

Starting 9th March

We are opening at 5294 gap up from 5220 .

The JNSAR is at 5344 .
We have opened above R2 for the day at 5282 ...Also opening is at 34 hr sma , if we trade above this lvl then bias for day is up .

I feel today ORB will be a good guide  .
 Aggresive Trade will be to go long now at 5303 ..with R2 as Stop loss.