Tuesday, April 15, 2014

Nifty, having logged into a corrective phase, travels the High & low ema range..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Happy Birthday, dear Guru Krishnan..

Prices have signalled a "sell on rises" at the overbought zone with a fall and a retrace that could not end the day above DHEma.
Strength would be only above 6804 & 6813.
The trading zone for the day are 6793-6813 to 6693-6713.
Corrective phase unfolds from among innumerable forms. Trading such a phase requires identifying likely resistances and supports and then simply initiating trades at those appropriate levels which make the SL quite small thereby making "low risk high reward setups".
This is the only way to trade a corrective phase.