SMO SAR for Nifty ji: for 20th Apr'12

CMP: 5332.4

And so my love affair with the 5-10 system continues, and so does its love affair in turn continue with PRICE ;-)

Notional NS pt gains : 5332-5249 = 83 pts
(and counting.. trade is live & has Morphed into SWING)

Supports      : 5265 / 5282
Resistances  : 5366 / 5391 / 5415-5425

SMO SAR VERDICT:

<<< Corrected as >>>

SMO SAR Hrly = 5325

SMO SAR EDO = 5291
1. Carry Longs (created from hrly ENTRY @ 5249) , till price closes > 5291 @ EOD

2. price closed > 5DHEMA --> V BULLISH

3. Price will BREAK-OUT if we close > 5334 tomorrow



For the Trend Follower:

1. PLS SHUN CHASES FOR GLORY OF PREDICTION,  --> DISSOLVE THE "I" , "Meine bolo waise hi hua" mentality. What is there to be said or shown to anyone , but UR-SELF ??

2. Do not crave for praise from external sources on some  Super-natural predictive powers, there are NONE & will only add to ur EGO & hasten ur Fall !!

3. Be happy & humble and FOLLOW price with SINCERTIY. U are ur own BEST JUDGE

(no external person is required to JUDGE u , but we need "Neeyat + Kabiliyaat" to reach that mental state)

4. Price is GOD & EMA's shall show the way to TRADING NIRVANA, provided
(i) U have a System
(ii) U have discipline
(iii) U remain ROBOTIC (detatched in decision making, learn to accept the std 20 pts SL getting popped 10% of the time, if at all ... )

That is all there is to it, & the Beauty of Trend Following is in its SIMPLICITY .

All these are the same principals that when applied to REAL LIFE, will bring PEACE OF MIND & Ultimately Self realisation !

Lifo-Fibbo + SMO SAR = Saraswati + Lakshmi Maiya ka Deedar  :-) 

cheers