19-Mar-12
Since market opened below pivot assuming -ve bias sold MiniNifty at 5324.60.
As expected nifty slowly broken ORB and went on to S1. Being first day I did not wait up to S1. Squared off at 5291.8. later nifty gone beyond S1 and touched 5260.
Later at last half hour I found price is crossing WLEma and closed above it. Hence I have taken Long position at 5276.3. I don't know whether this is correct way or not, since price closed below DLEma and HLEma. Tomorrow if market opens -ve I will Square off and see.
I Thank You Shri Illango for his continues coaching. Shri Ramki instilled hope in me. Shri Illango induced confidence in me. I thank both of them very much.
Since market opened below pivot assuming -ve bias sold MiniNifty at 5324.60.
As expected nifty slowly broken ORB and went on to S1. Being first day I did not wait up to S1. Squared off at 5291.8. later nifty gone beyond S1 and touched 5260.
Later at last half hour I found price is crossing WLEma and closed above it. Hence I have taken Long position at 5276.3. I don't know whether this is correct way or not, since price closed below DLEma and HLEma. Tomorrow if market opens -ve I will Square off and see.
I Thank You Shri Illango for his continues coaching. Shri Ramki instilled hope in me. Shri Illango induced confidence in me. I thank both of them very much.
Dayakar ji ,
ReplyDeleteAs per my understanding
Week , day and hour trend is down .
If week trend is up and there is a buy signal in Day TF then it is a valid signal .
Similarly if Day trend is up and during the day hour gives a buy signal ( by closing above Hour l ema , then above 5 close and then above hour high ema ,indicating momentum ) then it is a valid buy .
Since prices closed below the Hour low ema , this indicates the momentum still down , and also trend is down in all 3 time frames .
Rgds
Smita
Thank you very much Dear Smita. So kind of you. tomorrow if market open with -ve bias i will short. thank you once again.
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