Spot Nifty levels for intra-day trade on 11.11.2011
Levels as per SGX Nifty close of 5153 on 10.11.2011
Nifty was resisted at 5403(45 degree) and had support at 5257(225 degree) which is broken.Below this the levels are 5221(180 degree),5185(135 degree),5149(90 degree),5113(45 degree),5077(0 degree),5041(315 degree),5006(270 degree) and 4971(225 degree).the move from 4720 to 5400 was 680 points so the 50% level of 5060 is important to watch break of which will turn the medium term to bearish.If 5060 is sustained then we may see recovery up to 5230 levels.
No trade between 5135 and 5171(to avoid whipsaws)
Buy above 5171 with SL of 5151 for targets of 5189-5207-5225-5243
Sell below 5135 with SL of 5155 for targets of 5117-5099-5081-5064
Happy Trading !
Levels as per SGX Nifty close of 5153 on 10.11.2011
Nifty was resisted at 5403(45 degree) and had support at 5257(225 degree) which is broken.Below this the levels are 5221(180 degree),5185(135 degree),5149(90 degree),5113(45 degree),5077(0 degree),5041(315 degree),5006(270 degree) and 4971(225 degree).the move from 4720 to 5400 was 680 points so the 50% level of 5060 is important to watch break of which will turn the medium term to bearish.If 5060 is sustained then we may see recovery up to 5230 levels.
No trade between 5135 and 5171(to avoid whipsaws)
Buy above 5171 with SL of 5151 for targets of 5189-5207-5225-5243
Sell below 5135 with SL of 5155 for targets of 5117-5099-5081-5064
Happy Trading !
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