SMO SAR for Nifty ji: for 26th Apr'12

CMP: 5202

Smooth day :-)

Shorts opened @ 5291, booked @ 5170 = 120 NS pts in 2 sessions

Also, due to certain considerations, the SMO SAR LPFt will be kept aside for a few days

Turning to our moot business ...

Classic TA:
1. Close < 5207 is Bearish
2. Close took Nifty NS below < lower Support TL  from 5136 (Bearish)
3. Can seek Lower Bollingers @ 5146 -5154 before a bounce

SMO SAR VERDICT:

SMO SAR EOD =  5234 (to Exit Shorts on Day TA)

SMO SAR Hrly  = 5234 (to Go Long Intra-day on hr TA) !!!

1. No change in -ve  (dy/dx) of 5DEMA --> carry shorts with TSL @ 5234

It may seem that SMO SAR prescribes a STOP & REVERSE TRADE , albeit on different time frames .... is it right ?? Jus kidding ;-)

No--> Trend on Hr TA "May" or "May NOT" morph into Day TA. So always give wgtage to the HIGHER DEREE !!

2. Price Repeated knockin on Floor @ 5LEMA (5196), one more knock & it will penetrate below to lower Levels of the Weekly Support TL

Bulls will live only if Nifty gives :-

1. 2 half hr closes > 5222 (34EMA, 30mins)
2. Close EOD > 5234

Carry Shorts (if any) till EOD close > 5234 , or create on breach of 5195 (LoEMA)

--> probable tgts 5183 / 5146 / 5092 :-)

cheers