CMP: 5222
Obsvs:
1. Good TA, but SUB-OPTIMAL TRADING PLAN from my side !
2. Had booked 195 pts for 50% Lots @ 5235 @ 9:20AM, Then was supposed to wait EOD basis to sell off balance 50% PE ,
But decided to sq off PEs due to steep rise (price almost hit the 5DHEMA @ 5392) ,
.....so made only 70 pts on balance Qtys & missed the leg down again to 5222 :-(
Anyways, coming to TA:
SMO SAR VERDICT:
1. Price approaching support zone @ 5161-5225
2. Price Below << 5DLEMA (says continue holding shorts, if u r short)
3. Sq. of shorts if Developing 5DEMA changes sign (if EOD price is 5335 & above ruffly, pl do the excel calc on the FLY)
4. Remember the Weekly basis Tgt : 5066 --> 20WkSMA :-)
cheers
Obsvs:
1. Good TA, but SUB-OPTIMAL TRADING PLAN from my side !
2. Had booked 195 pts for 50% Lots @ 5235 @ 9:20AM, Then was supposed to wait EOD basis to sell off balance 50% PE ,
But decided to sq off PEs due to steep rise (price almost hit the 5DHEMA @ 5392) ,
.....so made only 70 pts on balance Qtys & missed the leg down again to 5222 :-(
Anyways, coming to TA:
SMO SAR VERDICT:
1. Price approaching support zone @ 5161-5225
2. Price Below << 5DLEMA (says continue holding shorts, if u r short)
3. Sq. of shorts if Developing 5DEMA changes sign (if EOD price is 5335 & above ruffly, pl do the excel calc on the FLY)
4. Remember the Weekly basis Tgt : 5066 --> 20WkSMA :-)
cheers
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