Nifty has recovered some of the losses on Friday to close the shop at 5278.It was an inside day with a bullish harami candle.Now it is imperious to cross the 5300 level on Monday to keep the momentum going for spot nifty.We are still at the lower end of the Bollinger Band which is at 5185.We need to cross the 20 DMA at 5328 for positive movement to continue.Failure to cross this level may again see another fall upto 5185.Money Flow Index shows the money is flowing out so one can be cautious on longs and keeping booking profits as and when they come.Intraday Traders can look at the levels on spot nifty for 26.03.2012 given below.
Spot Nifty levels for intra-day trade on 26.03.2012
No trade between 5260 and 5296(to avoid whipsaws)
Buy above 5296 with SL of 5276
for targets of 5314-5332(breakout level on the upside,add positions) 5350-5368-5385-5403-5421-5438.
No trade between 5260 and 5296(to avoid whipsaws)
Buy above 5296 with SL of 5276
for targets of 5314-5332(breakout level on the upside,add positions) 5350-5368-5385-5403-5421-5438.
Sell below 5260 with SL of 5280
for targets of 5242-5224(breakdown level on downside, add positions)5206-5188-5170-5152-5134-5116.
Happy Trading !
for targets of 5242-5224(breakdown level on downside, add positions)5206-5188-5170-5152-5134-5116.
sir all indicators r pointing to 5070 closing for expiry ............2marrow might be 5350 final high...
ReplyDeletefinally u know the level for expiry u r always always right ......
ReplyDeleteor 5436
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