Skip to main content

NIFTY LEVELS AND TRADING STRATEGY 21 AUG

By

Nifty closed marginally positive at 5366.30, up by 3.35 points or 0.06%, the Indian key indices opened on a strong note amid stability in global markets on hopes of
easing Eurozone credit crisis. Later market erased all gains after the CAG found irregularities in the government's coal allocation and usage. Nifty has formed a high
wave candle with long shadows on both sides near its immediate resistance level 5,380 indicating indecisiveness at higher levels. Nifty has also broken below its
supporting trend line with heavy volumes and decisive closing below 5,350 indicates that Nifty is likely to remain under selling pressure which would lead the index
downwards towards 5300‐5250. On the up side sustain buying above the 5,380 mark will see follow up buying towards 5,420‐5,460.

Trading strategy would be to Sell if market resist at 5,380 and Buy if support at 5,330. First resistance for the Nifty is 5,399 and next resistance 5,427 and first support for the Nifty is 5,339 and next
support at 5,311.
Labels:

Comments

Post a Comment

Popular posts from this blog

NIFTY TREND ANALYSIS & LEVELS FOR TODAY

By
Updated for-Jul/12/2013 Nifty was on a bull trend and closed at 5935 level. So today the first resistance for nifty is at 5971-75 level. Next resistance ranges are at 6008-12,6030-35,6047-52,6069-73,6088-92 levels. On downside first support is at 5898-94 level. Next supports are at 5861-56,5834-30,5800-95,5780-75,5741-36,5722-18,5702-98,5670-65,5623-18,5590-85,5569-65,5536-32,5518-14,5497-92,5477-74,5445-41 level.Nifty is in bull region So today on upside intra resistance are at 5975 and 6012 level and on down side support are at 5894 and 5856.Below 5856 be very alert and avoid longs.  Positional Support for NIFTY 5905 5872 5868 5838 5830 5824 5772 5764 and positional Immediate resistance for NIFTY is 5961. Intraday Resistance of NIFTY are 6008.8 : 6069.9 : 6051.2 : 6067.4 Intraday Support of NIFTY are 5861.4 : 5800.3 : 5820.1 : 5804.2
Post a Comment
Read more

Analyze the Market for Intraday Trading

By
Intraday trading is the buying and selling of stocks within the same day. In this all position are closed before market close. In Intraday usually the trader holds a position for a few minute or before market close. Some intraday traders focus on very short-term trading within the trading day, in which a trade may last just a few minutes. Intraday traders may buy and sell many times in a trading day. If you follow three steps (strategist) for intraday trading defiantly you get success. 1.Analyze the market. 2.Wait for right Opportunity. 3.Enter for trading. Intraday trading is totally based on analyzing specific share in comparison with the whole market and then taking appropriate action in the direction of Selling or buying. It is very important to know how the entire market is going to be today before start trading. It is important to know the status of global markets such as American market, China market, Singapore market, Hong Kong market and Japan market because mostly i...
Post a Comment
Read more

Software for Trading for Mechanical Buy Sell Signals

By
FII OUTLOOKFOR THE STOCK MARKET Foreign Institutional Investor (FII) seems to be lighting their weight in the stock market consistently despite the govt. going for every resort left to bring back the economy on track.   So far FIIs have sold shares of about 600 crore in the April, 2013 itself. Whereas February and March witnessed accumulation of 21000 and 11000 crore respectively, April appear to offer a cold shoulder so far as FII’s investment in concerned.   The intraday traders are getting jittery after the premium in nifty futures reduced marginally, coupled with heavy selling in the last sessions of stock market . This all indicate that even the FIIs especially Exchange Traded Fund flows are now at risk of being pulled out given continued political uncertainty and worries about early elections.   The BSE and nifty fell below their 200 dma which acted as crucial support and many times market showed a sharp bounce back from this level.   The online tr...
Post a Comment
Read more