Nifty View for 20.12.2011

Another low on spot nifty with a close at 4613.10.Nifty opened with gap down and so no trade could be taken on open.But break of 4600 on spot triggered sell signal(add positions which reiterates the down move) and targets of 4567 was achieved with a gain of 17 points today.Nifty has closed above 4600 with 50 odd points above the low.Lets us see how the retracement works out.No longs generated today for positional players.Intra-day traders can trade as per levels given below.

Spot Nifty levels for intra-day trade on 20.12.2011
No trade between 4596 and 4630(to avoid whipsaws)
Buy above 4630 with SL of 4610  for targets of 4647-4664(breakout  level on the upside,add positions)-4681-4698-4716-4733-4750-4767.
Sell below 4596 with SL of 4616 for targets of 4579-4562(breakdown level on the downside, add positions)-4545 -4529 -4512 -4495- 4478- 4461.
Happy Trading !