CMP : 5376
Ysday's post highlighted the importance of 5331-5381 band.
Today was a day of waiting & then some more waiting!
As expected Nifty went up to 5390 & then never came down..... i kept waiting for break below 5352 (esp @ 3:00pm when Nifty has just closed @ the 5Hr HEMA @ 5369),... but that Break down never came ....
SUPPORTS : 5344 / 5362
RESISTANCES : 5381-5395 / 5403-5419 (20DSMA , 10DEMA) / 5436
OBSVS FOR SMO SAR:
1. Tomo is the last trading day of Feb'12 . If Nifty closes above 5MnthHEMA (@ 5401), as per SMO SAR , it classifies as a BULLISH CLOSE on Monthly T/F
2. Like ysday's FALL , today's RISE was also on LOW VOLS, i.e @ Odds to Direction of Price. One must remain sceptical of this rise now.
3. 5DEMA has almost become flat & may Reverse SLOPE (that wud happen if Nifty traded above 5436) .
It would trigger an EXIT on the SHORT Trade entered Ysday @ 5429 , with 7 pts loss... lets c
SMO SAR VERDICT :
1. Nifty is TRANSITORY BULLISH on Day T/F as it closed above its 5DLEMA @ 5366 today
2. Nifty is BEARISH on Wk T/F, till price << 5WkHEMA @ 5444.
3. Nifty is BEARISH on Mnth T/F till price << 5MnthHEMA @ 5401
Wait for tomo EOD close to take new positions... FACT is I have No view for tomo, staying out.
cheers
Ysday's post highlighted the importance of 5331-5381 band.
Today was a day of waiting & then some more waiting!
As expected Nifty went up to 5390 & then never came down..... i kept waiting for break below 5352 (esp @ 3:00pm when Nifty has just closed @ the 5Hr HEMA @ 5369),... but that Break down never came ....
SUPPORTS : 5344 / 5362
RESISTANCES : 5381-5395 / 5403-5419 (20DSMA , 10DEMA) / 5436
OBSVS FOR SMO SAR:
1. Tomo is the last trading day of Feb'12 . If Nifty closes above 5MnthHEMA (@ 5401), as per SMO SAR , it classifies as a BULLISH CLOSE on Monthly T/F
2. Like ysday's FALL , today's RISE was also on LOW VOLS, i.e @ Odds to Direction of Price. One must remain sceptical of this rise now.
3. 5DEMA has almost become flat & may Reverse SLOPE (that wud happen if Nifty traded above 5436) .
It would trigger an EXIT on the SHORT Trade entered Ysday @ 5429 , with 7 pts loss... lets c
SMO SAR VERDICT :
1. Nifty is TRANSITORY BULLISH on Day T/F as it closed above its 5DLEMA @ 5366 today
2. Nifty is BEARISH on Wk T/F, till price << 5WkHEMA @ 5444.
3. Nifty is BEARISH on Mnth T/F till price << 5MnthHEMA @ 5401
Wait for tomo EOD close to take new positions... FACT is I have No view for tomo, staying out.
cheers
Can you help me to understand SMO SAR and what is big difference between JNSAR of illango sir. I am using MT4, will it possible to write a code to calculate SMO/JNSAR automatically.
ReplyDeleteThanks and Regards
VK
@ Vikpuramstock:
ReplyDeleteMajor differences are as follows:
1. ENTRY OF TRADE is triggered only by satisfying 2 criteria in TIME SEQUENCE:
i. Close above 5DLEMA (Bullish)or below 5DHEMA (Bearish)
ii. Later, 5-10DEMA cross over (to CONFIRM the Bullish or Bearish signal)
2. EXITS:
i.SMO SAR v.1.0 tracks the Change in Direction of 5DEMA (close price) curve. When 5DEMA changes direction we close the trade
ii. SMO SAR v.2.0 tracks the dy/dx of the PARABOLIC CURVE OF BEST FIT of prev 5 days close prices. Same funda: When dy/dx changes SIGN, it means EXIT
rgds