Finally a new low on spot nifty after three days try to break it.It recovered at the end of day to close at 5194.75.Nifty opened with gap down but could not close the gap fully and turned again down.Nifty is at crossroads as per the fibo fans.It looks it will be make or break days for nifty soon.Tomorrow's expiry looks eventful with 5200 put and 5200call on the online.Break of 5170 level can lead us to 5070 levels.Let us see how it pans out for the expiry.Intraday traders can see levls given below on spot nifty to trade on 29.03.2012.
Spot Nifty levels for intra-day trade on 29.03.2012
No trade between 5177 and 5213(to avoid whipsaws)
Buy above 5213 with SL of 5193
for targets of 5231-5248(breakout level on the upside,add positions) 5266-5284-5302-5320-5338-5354.
Sell below 5177 with SL of 5197
for targets of 5159-5141(breakdown level on downside, add positions)5123-5105-5087-5069-5051-5033.
Happy Trading !
kirtan saheb namaskar,
ReplyDeletepls tell how u have drawn the 2 fibbo fans from 4531 & 5629 ?
Best rgds
Shriram Oak
Hi Sir,
ReplyDeleteFrom 4539 as low connect the high of 5629 to draw first fibo fan.For second one connect 5629 to 5171 low to draw it.
Regards
K B Raut
Thank u very much,
ReplyDeleteI have been trying to use Fibbo FAN like GANN FAns & was trying to draw 50% line from 4531 to 5629 (was thinking it is equal to 1x1 line)
Best rgds
SMO