Nifty View for 25.01.2012

NIFTY CYCLE TARGET OF 5076 ACHIEVED TODAY GIVEN ON 14.01.2012

(3 DAYS EARLIER ).

Nifty has been on rampage today boosted by the breakout above 5100 earlier swing high.Nifty mad a high of 5141.05 and closed at 5127.35.On 20.01.2012 target given was 5131 which was achieved.Hope positional traders following have booked profits there.I had advised to keep bookings profits regularly and keep trailing stop loss to avoid erosion of your well earned profit and also your well earned money.We are out of positional call now with profits of 5131-5000=131 points on spot nifty.Those readers who could follow me with discipline needed have made the profits.We are nearing the resistance zone so we adopt a wait and watch policy now.Let the trend decide what it wants do.We enter gain if it sustains above the downward channel top from Nov 05 2010 or we fall again into the downward channel of sorrow for investors.In the short term rising channel shown we are also at the top of the intermediate channel.Watch the two lines in the middle.Below the lower line we retrace down to the bottom of the intermediate channel and above the upper line we move to the top of the intermediate channel.Positional Traders who could not book today can trail with stop loss of 5110 tomorrow.Intraday traders can look at the levels given below to trade on 25.01.2012.

Spot Nifty levels for intra-day trade on 25.01.2012
No trade between 5109 and 5145(to avoid whipsaws)
Buy above 5145 with SL of 5125 
for targets of 5162-5179(breakout  level on the upside,add positions) 5196-5213-5230-5247-5263-5280.

Sell below 5109 with SL of 5129 
for targets of 5098-5082(breakdown level on downside, add positions)-5065 -5048-5031- 5014- 4997-4980.

Happy Trading !.