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 TRADING SYSTEM

By
This is the general conception in share market-whether they are stock traders or nifty traders-keep impression that the movement in the market happens randomly and it cannot be predicted. Nifty’s buy/sell signal is simply out of ability of a common man to get command over.  In fact, this is not true and due to this misunderstanding they are not able to analyse nifty charts live or nifty trading system. But as a matter of fact, nifty trading system ought to be based on scientific and mathematical principles.  There are some clear formulate and strategies following which one can be overall winner and get a mastery over live buy and sell signals and intraday tips . What’s the common perception prevails in the market, goes up riding authentic news and get bearish ferociously when some rumours spread in the market .  Even intraday trading tips providers who do not, rather can not, give more than 33 % right tips.  Even the so called experts on TV business programmes are ...
Post a Comment
Read more

NIFTY TRENDS AND TRADING STRATEGY

By
Nifty closed negative at 5362.95, lower by 17.40 points or ‐0.32%, as persistent profit booking in index heavyweight turned sentiments negative amid rising crude oil prices. Nifty has formed a dark cloud cover candle with no upper shadows on daily charts indicating sustained selling at higher levels, and at same time index has also closed at the channel line support placed at 5,350 levels. 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 5,384 and next resistance 5,404 and first support for the Nifty is 5,350 and next support at 5,336. *** TRADE AT YOUR OWN RISK AND LIABILITY , READ DISCALIMER
Post a Comment
Read more

TRADE EXIT STARTEGY IN DAY TRADING

By
My Exit Beliefs In part one of this article, we considered a few questions: Should we use a tight stop loss to cut any losses quickly, or a wide stop loss to allow some room to move? How quickly should we move the stop loss to breakeven ? Should we take profits at a target, or should we let the profits run, perhaps trailing a stop behind the price? In attempting to answer these questions we looked at a number of charts, we chose entry criteria, and then looked at possible options for the exit. And this is what we discovered: Firstly, in each case, the profit or loss taken out of the trade was more a result of our chosen stop and exit method, not our entry. For the same entry, there were numerous possible exits, some profitable, some breakeven and some at a loss. And secondly, we cannot know, except with hindsight, what will be the most profitable exit strategy for that particular trade. In other words - the exit is more important than the entry. The exit has more bearing on w...
Post a Comment
Read more