EOD 14thAugust2012

EOD 14th August

First thing I notice is the  -ve divergence in hour and day charts ...
Day chart .

 Hour Chart .

Close Price :5380.35
With this
Hour trend is Up , Day Trend is Up with momentum
HHema ( 5378)
DHema ( 5354)

One should wait for the -ve divergence to play out , as we closed above high emas.
Hour Channels

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Intraday 14-8-12
from 5294 looks like 5 wave up .
w1 5294-5330=36
w2 as flat
a 5330-5311=19
b 5311-5330=19
c 5330-5309=21
w3 =47
i 5309-5326=17
ii 5326-5316=10
iii 5316-5352=36
iv 5352-5337=15
v 5337-5356=19
w4
5356-5330=26
w5 is on
5330-5387=57

Looks like w5 is done at 5387 and now retracement of move from 5294-5387 is on Provided 5387 is not broken .

Obervations for 13 Aug 2012

Close Price : 5320

TA supporting downmove :

Moving Average:
Hour TF we have closed above 5 ema , but below HH ema ( 5328)
Day TF we have closed above 5 ema ( 5308) , but below DHema ( 5331) bringing sell on rises .

-ve Divergence is seen in day charts

TA supporting upmove.

Aug 10 2012

Hour trend down with a close below 5331 ( H5ema)
We have closed below Dhigh ema(5331) , day 5ema being 5302 , opening below the DHema / P would suggest possibility of prices going to 5302 .
on hour chart 5-10 bear cross also happened today at 14:00 hours.

EW wise Day Chart

Hour chart

tomorow we see which probability plays out wave 3 or a flat.
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Intraday Aug 10th 2012

Above is 5 mins nifty chart ,As long as trading below the black TL , no longs only on break of this TL one can take a trade.

Here is the day chart .

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