CMP: 5484
CANDLE : EOD formed a sort of Long Legged Doji wid an EOD close BELOW prev Close.
SIMPLE OBSVs for SMO SAR:
1. Day Price closed @ 5484 < 5DLEMA (5483) : C1 satisfied for Shorts
2. 5DHEMA has begun TRENDING DOWN, first indication of end of Uptrend.
3. PSAR RED RESISTANCE has appeared EOD today.
SMO_SAR VERDICT:
1. C1: Satisfied for SHORT SELL --> Keep Nifty on RED ALERT , watch out for 5-10 DEMA Bear x-over & short wid SL @ 5DHEMA
2. Calculate Developing 5DEMA (CMP 5511) & 10DEMA ( CMP = 5471), to keep a track of x-over
3. Pls note tomo is friday. On WEEKLY T/F : Nifty is Bullish unless we Breach 5WkHEMA (CMP @ 5444)
4. So look out for Wkly + Daily Developing EMAs to know when to enter SHORT... Best is when Higher T/F Breached HEMA , (this will coincide with 5-10 DEMA x-over)
There u have it, magic is in the TREND ... the one & only Friend!
cheers
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