Tuesday, March 25, 2014

Nifty continues to move higher "holding" critical 50% retracement..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

In a trending market, hold & trail your trading positions to maximise return on your capital.
In a sideways/ consolidating/ corrective market, use retrace strategy and support & resistances to initiate & close trading positions during intraday oscillating price behaviour.
1=5 gives a target of 6633. 5th could go higher if 50% of 6483-xxxx is held.(approx)
Targets are guidelines.
One could part book or trail aggressively using 21 Hr sma or trail conservatively using 34 Hr sma. These two averages would start to diverge today.