Nifty had a very dull trading day with no volumes at all.The close is also the same for nifty.The Bollinger bands show a range of 5589 to 5252 with 20 EMA at 5362.The trend is down as we are below the 20 EMA.Below 20 EMA the next target could be 50 EMA at 5212.Nifty is still lagging at the lower end of the range.ADX indicator is also not showing any momentum for any significant move yet.Now the weeks opening will be critical for nifty next week.Intraday traders can look at the levels given below for trade on 05.03.2012.
Spot Nifty levels for intra-day trade on 05.03.2012
No trade between 5341 and 5378(to avoid whipsaws)
Buy above 5378 with SL of 5358
for targets of 5397-5415(breakout level on the upside,add positions) 5433-5452-5470-5489-5507-5526.
No trade between 5341 and 5378(to avoid whipsaws)
Buy above 5378 with SL of 5358
for targets of 5397-5415(breakout level on the upside,add positions) 5433-5452-5470-5489-5507-5526.
Sell below 5341 with SL of 5361
for targets of 5323-5305(breakdown level on downside, add positions)5286-5269-5251-5233- 5214- 5196.
Happy Trading !
for targets of 5323-5305(breakdown level on downside, add positions)5286-5269-5251-5233- 5214- 5196.
thanks for U'r kind information.....
ReplyDeleteHi Mantesh,
ReplyDeleteDo visit again
Regards
K B Raut
O.K Sir
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