Wednesday, December 7, 2011

Nifty View for 08.12.2011

We seem to have met some resistance at the 61.8% percent level today.The momentum has been up for few days without any meaningful correction.Correction always happen when we feel its one way on the upside.Be prepared for the unexpected.Two charts are put up one with the trend lines and other with the fibo circle is put up for the move.Lets us see if it materialises or not.
Spot Nifty levels for intra-day trade on 08.12.2011
No trade between 5045 and 5080(to avoid whipsaws)
Buy above 5080 with SL of 5060  for targets of 5098-5116-5134-5152-5170-5188-5206-5224.
Sell below 5045 with SL of 5065 for targets of 5027-5009-4992-4974-4956-4939-4921-4904.
Happy Trading !
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5 comments:

  1. neelimaDecember 8, 2011 at 12:44 PM

    wow........made a low of exactly 4956.congrats. guess more to come

    ReplyDelete
  2. Gann School of TradingDecember 8, 2011 at 6:35 PM

    Neelimaji,

    Patience was the key to gain profits here.So those with patience have been rewarded if they had done proper risk management.Also thanks for your kinds and appreciation which will always give a booster dose to try and put my views honestly and confidently.Always love feedback and feel obliged when I get it.Hope readers made most of the view today.


    Regards

    K B Raut

    ReplyDelete
  3. SandeepDecember 8, 2011 at 6:36 PM

    Great going Sir!

    ReplyDelete
  4. Gann School of TradingDecember 8, 2011 at 6:38 PM

    Hi San,

    Thanks for your kind words.Hope you made best of it.

    Regards

    K B Raut

    ReplyDelete
  5. SandeepDecember 8, 2011 at 10:05 PM

    Definitely Sir, ur views help a lot in taking positions.

    Regards

    ReplyDelete

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