CMP : 5334
WEEKLY:
1. Weekly Candles has potential of transforming into a MORNING STAR (requires next weekly candle to close above 5383 on Weekly Close Basis
2. Wk Price close > 5WkLEMA (@ 5223) --> BULLISH ON WEEKLY (satisfies C1 of SMO SAR)
3. Price rise was on LOW VOLS... @ odds w.r.t TREND.... be prepared for WHIPSAWS
DAILY T/F:
1. EOD Candles have given a BREAK AWAY GAP, with Opening Range Breakout (ORB) . Price did not fall even though it was a Friday & ppl held on to LONGS --> BULLISH ON DAILY
2. EOD Price close > 5DLEMA (5258) & closed just below 5DHEMA (@ 5344) --> BULLISH ON DAILY (satisfies C1 of SMO SAR, now ON ALERT for LONGS, wait for 5-10DEMA BULL X-over)
SMO SAR VERDICT:
1. On Alert for Going Long on Day T/F, waiting to satisfy C2 (will happen if price closes > 5380)
2. Weekly Support Zones : 5050 -5086 / 5158 / 5300
Weekly Resistance Zones : 5455 / 5577 / 5647
3. Daily Support Zones : 5220 / 5280 / 5335
Daily Resistance Zones : 5380 -5400 / 5429-5454 / 5521
SUMMARY : Keep an eye on DAY CLOSE PRICES , go LONG only if we close EOD > 5380
cheers
WEEKLY:
1. Weekly Candles has potential of transforming into a MORNING STAR (requires next weekly candle to close above 5383 on Weekly Close Basis
2. Wk Price close > 5WkLEMA (@ 5223) --> BULLISH ON WEEKLY (satisfies C1 of SMO SAR)
3. Price rise was on LOW VOLS... @ odds w.r.t TREND.... be prepared for WHIPSAWS
DAILY T/F:
1. EOD Candles have given a BREAK AWAY GAP, with Opening Range Breakout (ORB) . Price did not fall even though it was a Friday & ppl held on to LONGS --> BULLISH ON DAILY
2. EOD Price close > 5DLEMA (5258) & closed just below 5DHEMA (@ 5344) --> BULLISH ON DAILY (satisfies C1 of SMO SAR, now ON ALERT for LONGS, wait for 5-10DEMA BULL X-over)
SMO SAR VERDICT:
1. On Alert for Going Long on Day T/F, waiting to satisfy C2 (will happen if price closes > 5380)
2. Weekly Support Zones : 5050 -5086 / 5158 / 5300
Weekly Resistance Zones : 5455 / 5577 / 5647
3. Daily Support Zones : 5220 / 5280 / 5335
Daily Resistance Zones : 5380 -5400 / 5429-5454 / 5521
SUMMARY : Keep an eye on DAY CLOSE PRICES , go LONG only if we close EOD > 5380
cheers
shri ji, nice work, if gap up at +100 on nifty , then also can go long ?
ReplyDeleteI will keep my eyes on 5380.
ReplyDeleteregards
Kalyani
ReplyDeleteSAR is based on Hi, LO & close prices only.
Opening 100+ pts Does not matter in the decision frankly
If we CLOSE > 5380, we go long IN ROBOTIC fashion with 5DLEMA as SL :-)
cheers
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ReplyDelete