Invalidation on a fall below 5100-5090.
Confirmation on a move past 5155-5165 & 5180, targetting 5330.
There is also a "Bearish rounding top" in the daily chart.
Invalidation on a rise above 5180.
Confirmation on a fall below 5080, 5064., targeting 4870 & lower..
The critical levels for traders is 5090/5105 to 5135/5145 (+/-10 points).
Asian Markets has come off the highs and if stays in the negative, you will see the lower levels and if rebounds by 9.55AM, you will see the higher levels.
Also watch Dollar index range 75.95 - 76.30 breaking for further clues..Till then, Nifty is stuck in this range.
9 comments:
Dollar Index may play crucial role in coming days.
HII Ilango sir, i m a conservative trader, can i add shorts below 5090 level??if not, below which level adding shorts will b safe??
Hi Bizagra,
I think below 5050-5040 it will be safe, am i right ilango?
bizagra,
I was thinking of going LONG here at 5090 with a SL of 5080. I wonder who is right now.
I thought the best strategy right now is to write a 5100 call and put for Rs 240, keeping SL of 5050 for the put and SL of 5180 for the call.
Hi..All,
Trade the levels mentioned..Don't just hold on to a position.
Sir can U plz sugest NF SAR now at 5090 levels?
There is a +ve div in the 5-minute charts.
hi..Musti,
It is only for trading for intra..5085 being the lower end of the range..Will look out for resistances. If the Pivot 5116 is cleared, then higher levels.
After Dubai fund crisis is spreading in Greece and Spain.
Regards
Amit
Post a Comment