SMO SAR for Nifty ji: for 19th Apr'12

CMP: 5300

Close > 5272, 5-10DEMA x-over in place --> Triggers SWING LONGS (or says that Hourly Long Trade has morphed into a high probability EOD long trade)

Was out on work till 14:00 hrs, so could not trade. Carrying some Longs created @ 5249 (on 17th Apr'12), since TRADE has morphed into SWING

Obsvs:
1. 50DEMA & EOD candle REZ zones 5335-5345 resisted the Up-move EOD
2. price closed > falling UTL (5280 zone)

SMO SAR VERDICT:

SMO SAR  = 5272 (SMO SAR level remains STATIC as 2days price closes are nearby)

1. 5-10DEMA x-over in place. Hrly Long Trade from 5249 morphs into SWING Longs

2. As long as EOD Close > 5272  (we maintain the X-over & 5DEMA dy/dx) . EOD close < 5272 means we close the LONG TRADE

3. 5270 zone also tallies with Falling UTL (which can now Support the falls)

4. Close @  near = 5DHEMA (suggests todays fall was a smaller degree corrective)

SO.... NO "PRE-EMTIVE" VIEW ON SHORTS FOR NOW .. ROBOTIC IS THE WAY AHEAD.

Supports  : 5256 / 5272 - 5281

Resistances : 5334 / 5366

Trend Follower's Dictum: Predict we Perish, Follow we Flourish!

cheers !