CMP: 5385
CANDLES:
EOD has formed a higher Hi-Lo candle, but with a Bearish outlook as it closed near the lows of the day. (to be further confirmed by breach of TL support)
TREND LINES:
TL Support comes in on Short Term @ 5372. Break Down below 5372 will usher a fall to 5331-5344 Band
OBSV for SMO SAR:
1. Feb'12 Price closed @ 5385 < 5 Month HEMA ( @ 5401), BEARISH ON MONTHLY & a REVERSE SHAKE OUT MONTHLY CANDLE FORMED (BEARISH)
2. 5DEMA has still not changed sign ... Integrity of TSL still maintained
3. Price closed EOD below the level of 5436
SMO SAR VERDICT:
Hold Short (created @ 5429) , with SL @ 5436 for SWING TRADE, Tgt : 5331-5344.
cheers
CANDLES:
EOD has formed a higher Hi-Lo candle, but with a Bearish outlook as it closed near the lows of the day. (to be further confirmed by breach of TL support)
TREND LINES:
TL Support comes in on Short Term @ 5372. Break Down below 5372 will usher a fall to 5331-5344 Band
OBSV for SMO SAR:
1. Feb'12 Price closed @ 5385 < 5 Month HEMA ( @ 5401), BEARISH ON MONTHLY & a REVERSE SHAKE OUT MONTHLY CANDLE FORMED (BEARISH)
2. 5DEMA has still not changed sign ... Integrity of TSL still maintained
3. Price closed EOD below the level of 5436
SMO SAR VERDICT:
Hold Short (created @ 5429) , with SL @ 5436 for SWING TRADE, Tgt : 5331-5344.
cheers
targets acchieved Shri.. great going.. keep it up !!!
ReplyDeleteCheers!!
yea buddy...
ReplyDeleteThe only REALITY is PRICE :-)