Nifty opened gap down today and continue one way with no recovery at all to close the day at 5184.25.Spot nifty missed the low of the series by 3 points at 5174.95.We are at a critical level of support as per the fibo fan as shown in charts.The 61.8% level of fibo fan if held tomorrow then we may see recovery on spot nifty to the 50% level of fibo fan in days to come.If we break this level then we may retrace to 78.60% level as shown by the fibo fan.The accumulation distribution indicator shows how distribution occurred at higher levels on the spot nifty.Spot nifty has respected the fibo fans in this correction till now so let us see if it respects it again or not.Intraday traders can look at the levels on spot nifty given below to trade on 27.03.2012.
Spot Nifty levels for intra-day trade on 27.03.2012
No trade between 5166 and 5202(to avoid whipsaws)
Buy above 5202 with SL of 5182
for targets of 5220-5238(breakout level on the upside,add positions) 5256-5274-5292-5310-5328-5346.
Sell below 5166 with SL of 5186
for targets of 5148-5130(breakdown level on downside, add positions)5112-5094-5076-5058-5040-5022.
Happy Trading !
Spot Nifty levels for intra-day trade on 27.03.2012
No trade between 5166 and 5202(to avoid whipsaws)
Buy above 5202 with SL of 5182
for targets of 5220-5238(breakout level on the upside,add positions) 5256-5274-5292-5310-5328-5346.
Sell below 5166 with SL of 5186
for targets of 5148-5130(breakdown level on downside, add positions)5112-5094-5076-5058-5040-5022.
Happy Trading !
hi sir i m new in ur blog........ if u post some good intrady stock....its help 4 me...i m a small trader......
ReplyDeleteHi Rajesh,
ReplyDeleteThis blog has been predominantly for Nifty.You are welcome to the blog.I trade nifty only as it is easy to study one scrip and concentrate on it.You can buy Nifty Bees as per the trading levels given here without any leverage and also with a small capital.Happy Trading!!!
Regards
K B Raut