Nifty has made a double bottom yesterday and is still within the channel for more than a month or so.The channel needs to be watch carefully as within it we are range bound with hopes of some recovery.If we break the channel on downside expect volatile moves on Nifty with panic.On break of channel do not take over exposure and wait till it settles for a day or two.Keeping intraday view with strict stop losses is the order of the day.No positional view and profit booking is must with small targets or trail the stop loss to lock in profits.Please do not guess or anticipate targets in mind but watch actual levels in markets.
LEVELS OF SPOT NIFTY FOR INTRADAY ON 05.10.2011
No trading zone between 4755 to 4789 to avoid whipsaws.
Buy above 4789 with SL of 4774 for targets of 4807 - 4824 - 4841- 4859
Sell below 4755 with SL of 4770 for targets of 4738 - 4720 - 4703- 4686
Happy Trading !
No trading zone between 4755 to 4789 to avoid whipsaws.
Buy above 4789 with SL of 4774 for targets of 4807 - 4824 - 4841- 4859
Sell below 4755 with SL of 4770 for targets of 4738 - 4720 - 4703- 4686
Happy Trading !
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