CMP: 5290.85
5291 was SMO SAR EOD for today & see Nifty ... Spot price closed @ 5290.85 !!
Should we call this co-incidence, or did Nifty decide to make a Cruel joke on the Algo ?? :-)
Nifty has left us in BALANCE here , becoz:
1. Slope of 5DEMA (dy/dx) has NOT changed sign, it has become 0 today (neither Up or Down) !!
2. Price closed @ = 5DCEMA (neither above or below on closing basis --> Trendless)
Wot I did vis a vi the TA & Trading Decision ??
To be honest, i was a a little Dazed @ the Fast Fall (80pts , 10 mins @ 14:30 hrs), but decided to wait till EOD to see if 5291 would Hold.
But @ 3:25Pm today, price was hovering around 5290 & avg closing price would also come somewhere close by. --> Meant INDECISION on Daily T/f !!
Hence I sold out longs (carrying from 17th Apr'12, 13:30 hrs close @ 5249). Though NS traded higher @ 5288, I made only Chillar profits as the Call Options had relatively shed its premium today
Anyways, that was my TRADING DECISION, and I decided to sell out coz Nifty did NOT give any Hints & my positions were still in marginal gains, so booked it.
Chalo, will look out on Moday now to re-enter based on LiFo-Fibbo & SMO SAR
SMO SAR VERDICT:
SMO SAR EOD = 5292
1. Nifty --> Trendless , dy/dx of 5DEMA = 0
2. Need Price to close > 5292 EOD , to maintain the UPTREND
3. Look out for 30mins price close > 34EMA (5307.6) + 5-10HrEMA x-over to go LONG (Lifo-FIBBO)
4. Else for Shorts, wait till EOD, check if price closes below < 5292 & then check if 5-10HrEMA gives a BEAR X-over . Go SHORT @ that pt
STAY DISCIPLINED, & KEEP THE FAITH :-)
cheers
5291 was SMO SAR EOD for today & see Nifty ... Spot price closed @ 5290.85 !!
Should we call this co-incidence, or did Nifty decide to make a Cruel joke on the Algo ?? :-)
Nifty has left us in BALANCE here , becoz:
1. Slope of 5DEMA (dy/dx) has NOT changed sign, it has become 0 today (neither Up or Down) !!
2. Price closed @ = 5DCEMA (neither above or below on closing basis --> Trendless)
Wot I did vis a vi the TA & Trading Decision ??
To be honest, i was a a little Dazed @ the Fast Fall (80pts , 10 mins @ 14:30 hrs), but decided to wait till EOD to see if 5291 would Hold.
But @ 3:25Pm today, price was hovering around 5290 & avg closing price would also come somewhere close by. --> Meant INDECISION on Daily T/f !!
Hence I sold out longs (carrying from 17th Apr'12, 13:30 hrs close @ 5249). Though NS traded higher @ 5288, I made only Chillar profits as the Call Options had relatively shed its premium today
Anyways, that was my TRADING DECISION, and I decided to sell out coz Nifty did NOT give any Hints & my positions were still in marginal gains, so booked it.
Chalo, will look out on Moday now to re-enter based on LiFo-Fibbo & SMO SAR
SMO SAR VERDICT:
SMO SAR EOD = 5292
1. Nifty --> Trendless , dy/dx of 5DEMA = 0
2. Need Price to close > 5292 EOD , to maintain the UPTREND
3. Look out for 30mins price close > 34EMA (5307.6) + 5-10HrEMA x-over to go LONG (Lifo-FIBBO)
4. Else for Shorts, wait till EOD, check if price closes below < 5292 & then check if 5-10HrEMA gives a BEAR X-over . Go SHORT @ that pt
STAY DISCIPLINED, & KEEP THE FAITH :-)
cheers
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