CMP: 5339.75
Ysday I had blogged:
"Hold Short (created @ 5429) , with SL @ 5436 for SWING TRADE, Tgt : 5331-5344"
The tgt was achieved in the first 25 mins today ! Funnily, I did not expect such a weak day today, and that's why i was labelling it a SWING TGT
Anyways, am not the one complaining @ this windfall ;-D
Coming to business:
CANDLES:
1.EOD was a Black Candle with a Longish Tail (buying strength @ 5298-5320 levels)
2. VOLS were Low again, so DIRECTION should be taken with a Pinch of Salt
TRENDLINES:
We have an intresting confluence of 3 TLs , TLs suggest the following:
1. RESISTANCES @ 5362-5395 & 5420 zones
2. SUPPORTS @ 5362 (if Nifty manages to blob up above 5362 & hold the level)
OBSV for SMO SAR:
1. Price closed @ 5339.75 << 5DLEMA @ 5342) , BEARISH
2. 5-10 DEMA BEAR x-over is firmly in place & 5DEMA has not changed DIRECTION yet.
SMO SAR VERDICT:
Hold Shorts created @ 5429 with SL @ 5395 (above this level 5DEMA will change Curve again)
Even in the worst case, if TSL is hit we make 34 pts !!
If Nifty does not show 5395, we can be rest assured of a DIP to 5210-5225.
The real beauty of the SAR SYSTEM is in realising that PATIENCE IS VIRTUE & that TREND IS THE ONLY FRIEND :-)
cheers
Have become an avowed believer in ROBOTIC / SYSTEM TRADING..
Ysday I had blogged:
"Hold Short (created @ 5429) , with SL @ 5436 for SWING TRADE, Tgt : 5331-5344"
The tgt was achieved in the first 25 mins today ! Funnily, I did not expect such a weak day today, and that's why i was labelling it a SWING TGT
Anyways, am not the one complaining @ this windfall ;-D
Coming to business:
CANDLES:
1.EOD was a Black Candle with a Longish Tail (buying strength @ 5298-5320 levels)
2. VOLS were Low again, so DIRECTION should be taken with a Pinch of Salt
TRENDLINES:
We have an intresting confluence of 3 TLs , TLs suggest the following:
1. RESISTANCES @ 5362-5395 & 5420 zones
2. SUPPORTS @ 5362 (if Nifty manages to blob up above 5362 & hold the level)
OBSV for SMO SAR:
1. Price closed @ 5339.75 << 5DLEMA @ 5342) , BEARISH
2. 5-10 DEMA BEAR x-over is firmly in place & 5DEMA has not changed DIRECTION yet.
SMO SAR VERDICT:
Hold Shorts created @ 5429 with SL @ 5395 (above this level 5DEMA will change Curve again)
Even in the worst case, if TSL is hit we make 34 pts !!
If Nifty does not show 5395, we can be rest assured of a DIP to 5210-5225.
The real beauty of the SAR SYSTEM is in realising that PATIENCE IS VIRTUE & that TREND IS THE ONLY FRIEND :-)
cheers
Have become an avowed believer in ROBOTIC / SYSTEM TRADING..
great work Shri.. can we apply same technique to individual scripts.. the time frame might be different? but how do i find..which time frame to take.. for individual script? shoudl i tak 5 day 5w and 5 m time frame for any script?
ReplyDeletehi sachin,
ReplyDeleteHonestly, I have concentrated on Nifty only.
U will have to check out the algo on individual stocks.... though I see no reason for it not to work !
cheers