Nifty opened with a gap up today made high and tried to retain it for the day but gave it up towards the end of the day.A positive close at 5300 after 04.04.2012.The chart above shows bollinger bands on nifty with top at 5362 and lower band at 5154.The bollinger bands look to be narrowing which may effect in giving a breakout on either side.Currently we are the upper band so lets hope its on the upside.The Force Index has turned positive for the first time 05.03.2012 which is significant.Intraday traders can look at the levels on spot nifty given below to trade on 18.04.2012.
Spot Nifty levels for intraday trade on 19.04.2012
No trade between 5283and 5308(to avoid whipsaws)
Buy above 5308 with sl of 5288
for targets of 5326-5344(breakout level on the upside,add positions)
5362-5390-5408-5424-5442.
Sell below 5283 with sl of 5303
for targets of 5265-5247(breakout level on the downside ,add positions)
5229-5211-5193-5175-5157.
Happy Trading !
nice one we r now in a good bull phase heading towards 5950 yes we will break on upside
ReplyDeleteHi Doc,
ReplyDeleteA very bold and bullish view.
Regards
K B Raut