Thursday, December 22, 2011

Nifty View for 23.12.2011

Nifty has not given confirmation with a close above 4750 as expected.So be cautious.Those who could buy out of money calls would have benefited today.Our Option Service call was generated in 4600CE,4700CE and 4800CE.Today 4800CE was our favourite and it doubled.Interested can always ask for it.We provide service for Stocks (NSE Futures), Index(NSE Futures & Options), Commodities(MCX) ad Currrencies(Futures & Options).In Stocks(Futures) SBIN and LT were our favorites.As usual Nifty Futures call gave nearly 100 points.Now today's action was positive for nifty.Nifty was restricted in the region of 4750 odd as estimated above yesterday's high of 4707.Our new trading system gave early breakout to enjoy the move.Now what next.Resistance at 4750 on spot nifty and above it 4820 where one should look to profits if it comes.Fridays have been wild swing days so be careful of not getting carried away with this move.Always keep level target and be satisfied with them instead of trying to over-trade.Try to follow the trend and look for exits with profits.Positional players can long above 4750 close and keep stop loss of 4720 after that.Intraday players can use levels given below :
Spot Nifty levels for intra-day trade on 23.12.2011
No trade between 4717 and 4751(to avoid whipsaws)
Buy above 4751 with SL of 4731  for targets of 4768-4785(breakout  level on the upside,add positions)-4802-4819-4836-4853-4870-4887.
Sell below 4717 with SL of 4737 for targets of 4699-4682(breakdown level on the downside, add positions)-4665 -4648 -4631 -4614- 4597- 4580.
Happy Trading !

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4 comments:

  1. SandeepDecember 23, 2011 at 7:02 AM

    Hi Sir,

    "Fridays have been wild swing days so be careful of not getting carried away with this move.Always keep level target and be satisfied with them instead of trying to over-trade.Try to follow the trend and look for exits with profits"

    Very nicely said.. few things one should religiously follow, he is a definate winner.

    Thanks & Regards

    ReplyDelete
  2. BrameshDecember 23, 2011 at 7:59 AM

    Excellent Post sir !!

    ReplyDelete
  3. Gann School of TradingDecember 23, 2011 at 3:18 PM

    Hi Bramesh,

    Thanks for your kind words.Watch your articles recently on data analysis.they have been superb.

    Regards

    K B Raut

    ReplyDelete
  4. Gann School of TradingDecember 23, 2011 at 3:20 PM

    Hi San,

    Yes few things are common for old and new trades and they need to be rigorously followed.The older you are more the disciplined you should be in your trades.


    Regards

    K B Raut

    ReplyDelete

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