DAY TRADING ARTICLE
AUTO BUY SELL SIGNAL FOR INTRADAY CLICK HERE
AUTO BUY SELL SIGNAL FOR INTRADAY CLICK HERE
As Said Last Week To Short On Every Rise In Nifty With Stoploss Of 5530 For The Target Of 5430 – 5380 Levels And Also It Was Advised To Cover Short And Make Long Position With Stoploss Of 5345 On Closing Basis For The Target Of 5420 – 5450 Levels For This Week
As Said Markets Are In Downtrend And Still There Is No Sign Of Reversal Seen On Daily Charts Also The Trend In Daily , Weekly And Monthly Charts Remains Down
As The Daily Charts Are Oversold Markets Seems To Hold 5350 Levels And Take Support Before Breaking Further Down As Daily Charts Are Highly Oversold So If Markets Holds This Levels One Can Make Long Position For Targets Of 5420 To 5450 Levels And Make Again Short Around This Levels For Further Down Targets Untill Markets Are Closing Below 5450 Levels There Is No Short Term Reversal Seen.
Also The Monthly Pivot Is At 5554 While Weekly Pivot Is At 5504 Levels Which Means That Nifty Remains Below This Levels There Is No Strength Or Momentum Seen, The Momentum Can Reverse Only Above This Pivots
Also Weekly Charts Are Not Suggesting Any Reversal Point.Also The Range On Weekly Charts Suggests That The Trading Range Is Getting Narrowed And Now We Are In The Band Of 5350 – 5450 So Try To Play The Range Unless It Does Not Break. Also Rsi 14 ,Macd, And Ss On The Weekly Chart All Are Suggesting Further Downside And Same Is On Daily Charts. But As The Range Is Quite Narrowed On Daily As Well As Weekly Charts It Is Advised To Sell On Rallies And Cover On Decline. Shorting Strategy Shall Be Much Profitable And Major Trend Remains Down
Also On Break Of 5350 Nifty Can Drift Down To 5177 Which Is The Previous Low Which Has Been Hold 11th February And Below Which It Can Directly Drift Towards 4800.
THIS ARE MY VIEWS.
Your chart is very good and the as suggested by u on 29052011 nifty went up to 5605 and came down.superb calculation
ReplyDelete@ jagannathan
ReplyDeletethanx for the compliment