Fridays close has changed picture for spot Nifty with a close below 4950.As I had given a very positive view on Nifty.But I had mentioned we need to close above 4950 on friday and also cross the resistance of 5113 and close the gap.Now for the short term trend I have marked Woodies levels on the chart with pivot.The trend will change from down to up above 5041( PSAR level.).
LEVELS OF SPOT NIFTY FOR INTRADAY ON 03.10.2011No trading zone between 4926 to 4961 to avoid whipsaws.
Buy above 4961 with SL of 4946 for targets of 4979 - 4996 - 5014- 5028
Sell below 4926 with SL of 4941 for targets of 4908 - 4891 - 4873- 4856
Happy Trading !
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