Friday, August 24, 2012

Nifty Hourly Chart Update 24.08.2012


MACD is still positive but RSI has dropped from 80 to 40 level. Breach of 40 RSI level will mark further weakness. Price action shows a breach of channel on price today....Positional stop loss of 5388 on stop loss should be kept in mind....

 Happy Trading !!!


Posted by at

6 comments:

  1. kuheliAugust 25, 2012 at 7:18 PM

    LTP of Nifty was above 5388, but it was averaged below 5388. Does it mean that positional stop loss had been triggered?
    Further, what is the target of this positional long?

    ReplyDelete
  2. Gann School of TradingAugust 25, 2012 at 7:29 PM

    Hi K,

    The open for this week will be make it clear if opens above or below this figure of 5388 on spot nifty. The pivot for this rise was at 5402.50 so we have definitely closed below it. The target for this rise is 5476 at the moment. The level of 5329 is critical for this trend and breach of the same may take us to 5257.

    K B Raut

    ReplyDelete
  3. kuheliAugust 25, 2012 at 8:40 PM

    thank you, sir, for your prompt reply. Me a fan of yours.

    ReplyDelete
  4. Theory and Practical on NiftyAugust 25, 2012 at 8:59 PM

    Crossing5439 Will take it to 5555 above that .5669 positional stopq loss at 5360 downward target 5217

    ReplyDelete
  5. Gann School of TradingAugust 25, 2012 at 9:36 PM

    Hi,Theory and Practical on Nifty,

    It becomes difficult to address without proper name...
    Target for this swing is 5476 with base at 5329 and breach of it may take it 5257....Above 5476 next on radar is 5625 ...

    K. B. Raut

    ReplyDelete
  6. Gann School of TradingAugust 25, 2012 at 9:37 PM

    Hi K,

    Thanks...keep visiting..


    K. B. Raut

    ReplyDelete

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

My Blog List