SMO SAR for Nifty ji: for 10th Apr'12

CMP: 5234

Forced to close longs opened at 5233, @ 5282 -- > open today (since we gapped down below the SAR level of 5295)

EOD CANDLES:
1. Continuous gap downs & today was a BIG BLACK BAR

(i)  Opened < 20DSMA ; (ii) Closed Near Day LOW ; & (iii) formed Lower Hi-Los
Another black Candle Tomo would make it Bearish --> can form 3 black CROWS, if we close below 5234 tomo

2. We "may be" in a CT , cannot be confirmed as on TODAY , so no pt speculating ....

EWT:
We "may" have finished B.a as an IMPULSE & now doing a 3-wave B.b the following EW lables may be considered :-

A	5629	5136	-493
B.a	5136	5378	242	(finished as IMPULSE??)

B.b may do 80% to 138.2% of B.a (5044-5185, depending on ZZ, FLAT or X-panded Flat)

NOTE: Pls trash these lables in case the move develops over next 2 days as an IMPULSE


Obsvs for SMO SAR
1.  5DEMA has changed dy/dx (direction to -ve)
2.  5DEMA set to give a BEAR x-over to the 10DEMA , if we close < 5276 EOD

SMO SAR VERDICT

SMO SAR LEVEL = 5276

1. 5-10DEMA BEAR X-over will TRIGGER a SHORT on SWING (will happen if we close < 5276)

2. 34EMA, 30mins triggered shorts @ open 5282 ( opened below < 5321 which was the 34EMA)

Will this trade MORPH into a POSITIONAL SHORT ? 5276 will tell us tomorrow

for 10th Apr'12

Supports      :  5146 / 5185 / 5206

Resistances  : 5255 / 5280


cheers