CMP: 5275
Candles:
1. EOD formed a Range-Bound INR bar... indicating INDECISION
2. 14RSi on 30mins has shown +ve DIVERGENCE w.r.t PRICE (can mean STF REVERSAL?)
TLs & VOLS:
EOD price is hugging the LTL support. Close above 5285 tomorrow may indicate UP REVERSAL
Day Supports : 5205-5220 / 5257
Day Resistances : 5285 / 5330 / 5385
Fall is on LOW VOLS..... treat Shorts with care, place TSL @ 5295 (EOD basis)
LIFO SYSTEM (Fibbo EMA Ribbons on 30mins & 5mins) :
1. 55DEMA ( currently @ 5336) has supported the fall from 5499. If this zone 5333-5336 HOLDS tomorrow, we are in for a REVERSAL UP (it would also amplify a Double Bottom pattern if 5333 holds)
2. 34EMA, 30mins @ 5300, keep an eye on Price close on 30 mins above or below this level.
SMO SAR VERDICT:
SMO SAR LEVEL : 5295
Carry 50% qty (Shorted @5360 on Friday) , with TSL @ 5DEMA (ruffly @ 5295)
This also tallies with the LIFO-34EMA @ 30mins (5300 @ open tomorrow)
cheers
Candles:
1. EOD formed a Range-Bound INR bar... indicating INDECISION
2. 14RSi on 30mins has shown +ve DIVERGENCE w.r.t PRICE (can mean STF REVERSAL?)
TLs & VOLS:
EOD price is hugging the LTL support. Close above 5285 tomorrow may indicate UP REVERSAL
Day Supports : 5205-5220 / 5257
Day Resistances : 5285 / 5330 / 5385
Fall is on LOW VOLS..... treat Shorts with care, place TSL @ 5295 (EOD basis)
LIFO SYSTEM (Fibbo EMA Ribbons on 30mins & 5mins) :
1. 55DEMA ( currently @ 5336) has supported the fall from 5499. If this zone 5333-5336 HOLDS tomorrow, we are in for a REVERSAL UP (it would also amplify a Double Bottom pattern if 5333 holds)
2. 34EMA, 30mins @ 5300, keep an eye on Price close on 30 mins above or below this level.
SMO SAR VERDICT:
SMO SAR LEVEL : 5295
Carry 50% qty (Shorted @5360 on Friday) , with TSL @ 5DEMA (ruffly @ 5295)
This also tallies with the LIFO-34EMA @ 30mins (5300 @ open tomorrow)
cheers
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