A shrp gap up, followed by "fade the gap" to 4818 has happened. 4805-4810 should hold for this uptrend to continue.
Nifty is still below 5-ema, etc..As it has gapped up, it needs to consolidate before moving higher. Let us give it some time..
Friday, October 30, 2009
Nifty Intraday update.
Nifty has made a low & high of 4798 or 4815 to 4850..Place your stops accordingly.
A shrp gap up, followed by "fade the gap" to 4818 has happened. 4805-4810 should hold for this uptrend to continue.
Nifty is still below 5-ema, etc..As it has gapped up, it needs to consolidate before moving higher. Let us give it some time..
A shrp gap up, followed by "fade the gap" to 4818 has happened. 4805-4810 should hold for this uptrend to continue.
Nifty is still below 5-ema, etc..As it has gapped up, it needs to consolidate before moving higher. Let us give it some time..
Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
16 comments:
4805 taken out convincingly....now what? should we expect more downside??
Hi..Rishi,
4785 as support and 4815 as resistance for the immediate term. Trading below 4800 increases weakness owing to long weekend in Indian Markets, monday being a trading holiday..
ok great.
Ilango sir, u gave sl for longs for conservative traders as 4735, that is too far, sud i place 4785. i m a conservative trader.
Yes..bizagra. 4785 as a SL for conservative is fine.
Ilango sir,
Thanks for the update .. and yes ABC corrective of minute chart indicating towards 4791. So long s/l will be anywhere below that.
Hi..Satyam,
A level to enter long, i guess..considering the oversold nature.
Sir shd we hold the longs its almost stopped out.
Going by your last post the bounce is round the corner ;-)
Hi..askme,
It got stopped out quite comprehensively @ 4795 as per Morning post.
Long weekend ..may be a cause.
stops hit.....now short again??
Go Long again
HI Sir,
Can i buy nifty at this level or any nifty option call? i have already 5000CE @ 102, if yes what will be SL?
Hi..Dinesh,
It is a buy level and the SL for the new trade is 4760NS.
As I do not trade options in the beginning of the series, manage by the spot levels discussed here.
OK...THANKS SIR
stop triggered again :-(
Hard luck... y such a fall any idea?
I think its profit booking due to long weekend ahead...
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