Tuesday, December 6, 2011

Nifty View for 07.12..2011

The momentum on Nifty was not seen today and we closed below 5050 on the spot.It should move above the level of 5050 to keep the momentum going.Holiday has been a boon today for Nifty as the world markets have been down.We may see some correction possibly with gap down and break of 5000 may see some serious correction.
Spot Nifty levels for intra-day trade on 07.12.2011
No trade between 5021 and 5057(to avoid whipsaws)
Buy above 5057 with SL of 5037  for targets of 5075-5093-5110-5128-5146-5164-5184-5200.
Sell below 5021 with SL of 5041 for targets of 5004-4986-4968-4951-4933-4916-4898-4881.
Happy Trading !
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8 comments:

  1. BrameshDecember 7, 2011 at 7:37 AM

    Nice Presentation sir

    ReplyDelete
  2. Gann School of TradingDecember 7, 2011 at 7:58 AM

    Hi Bramesh,

    Thanks for your kind words.Markets need a breather for further rally lets see how much.

    Regards

    K B Raut

    ReplyDelete
  3. neelimaDecember 7, 2011 at 8:18 AM

    wud b waiting eagerly for d correction to come..

    ReplyDelete
  4. SandeepDecember 7, 2011 at 8:45 AM

    Sir,

    Really an unique way of looking the chart. Sir, how did you find the centre or it is just a matter of fact that all trend lines are intersecting on the same point?

    Regards

    Sandeep

    ReplyDelete
  5. neelimaDecember 7, 2011 at 8:52 AM

    SGX Nifty almost 40 points plus

    ReplyDelete
  6. Gann School of TradingDecember 7, 2011 at 6:14 PM

    Neelimaji,

    Positional short call was given with suitable stop loss.Whenever market moves against the anticipated trend :
    1) buy the next series and lock the spread.
    2)If this not possible then book at the stop loss and come out of the trade to wait for next opportunity.
    3) buy one call for the next strike and ride the trend.
    4) sell on put of the strike above your short price and ride the trend.
    Also patience and timing are the skills required to endure in markets.
    I personally manage with with any of the options given.Please do your risk management as per your choice.Markets are always supreme and we should respect them as our risk level.
    Regarding the downtrend I may be wrong with the timing or totally wrong.So lets watch how it pans out.

    Regards

    K B Raut.

    ReplyDelete
  7. Gann School of TradingDecember 7, 2011 at 6:38 PM

    Hi San,

    Its good that you are observing the charts with my view.The point was selected as it was the low before the break on the nifty.Also the support was broken after a very long time.Therefore it acted as a stiff resistance.One can observe that that we could not sustain above it.The breakdown of that level we made a new low.Now we are moving in the same resistance so logically one should experience some resistance around those levels.But once we cross that level it can be very eventful ride.We need to observe now how we behave at that level as it would be prudent to book around that level the longs and wait for a clear move.
    I hope this clears the doubt.Please revert back if any.

    Regards

    K B Raut

    ReplyDelete
  8. SandeepDecember 7, 2011 at 7:34 PM

    Thanks Sir.

    ReplyDelete

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