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.



Friday 9 March 2012

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.