SMO SAR for Nifty ji: 23rd Feb'12

CMP: 5505

CANDLES : EOD was an Engulfing Bear, as name goes, v bearish, now needs follow thru Selling to establish DOWNTREND

PSAR: PSAR Support Dot hits Price, --> Time to exit Longs @ TSL

Obsvs for SMO_SAR

1. EOD price closed << 5DHEMA (5581) & 5DEMA (5523)

2. Change in dy/dx of 5DEMA seen today, got the Exit for LONGS !

3. Price close > 5DLEMA (5493) , so NO RED ALERT YET ON SMO_SAR

SMO_SAR VErdict:

1. Booked 318 pts on LONG TRADE via TSL @ 5223-5225

2. Now sit on Sidelines & watch out for C1 Alert , if price closes below 5DLEMA (ruffly @ 5493)

3. Followers of JNSAR can carry longs wid SL @ J10.SAR = 5470, BUT V RISKY in my view.

4. Change of Trend wud be confirmed by close below 5DLEMA & subsequent 5-10DEMA BEAR x-over

SUMMARY: NO VIEW FOR TOMORROW. REST ONE DAY & DIGEST THE POINTS GAINED :-)

cheers