SMO SAR for Nifty ji: for 22nd Mar'12

CMP: 5365

Closed short @ 5295 for balance 50%, Nifty points gained : 65
Avg pts made : 83 pts (100 & 65, per lot)

Candles, TLs & Chart Patterns:

1. Morning Star on Daily Charts (BULLISH)

2. Close above 20DSMA (@ 5353) . One more EOD close above 5353 will Confirm BULLISHNESS

3. 5245 -5295 is the Support Zone as per Lower TLs

4. Bollinger's contracting on Daily Charts, imply possible Uptrend to 5520-5530 Levels

5. Ascending CT pattern being formed (Last Leg "e" may be in progress UP to 5520 zone)

6. Still no change in VOLS , hints @ a vacillating Corrective

EMAs & LIFO:
1. Price closes > 5DLEMA (Satisfies C1 for SMO SAR, now WAITING for C2 to trigger Long Trade)

2. Price closes > 34 EMA, 30mins @5295 triggering Longs on Intraday, to be trailed with 18/21EMA on 5 mins , TRADE IS STILL LIVE

SMO SAR VERDICT :

C1 satisfied , now waiting for 5-10 DEMA BULL x-over to Trigger LONG TRADE
(if we close EOD above 5358)

SMO SAR LEVEL: 5358 (for tomorrow) , SL :20 Pts ; Tgt : 5520 (potential 160 pts UP)

cheers