Nifty opened today again with a gap and carried on from there to close at 5429.50.Now it has moved above the 20 day moving average which good for the short term swing.The bollinger bands show the lower band at 5187 and upper band at 5615.Nifty can target the upper band if it maintains above the middle band at 5402.The ADX and RSI are both flat now but one needs to watch it further.Above 40 RSI can target 60 level .Intraday traders can look at the levels given below on spot nifty to trade on 14.03.2012.
Spot Nifty levels for intra-day trade on 14.03.2012
No trade between 5411 and 5448(to avoid whipsaws)
Buy above 5448 with SL of 5428
for targets of 5466-5484(breakout level on the upside,add positions) 5502-5520-5538-5556-5574-5592.
No trade between 5411 and 5448(to avoid whipsaws)
Buy above 5448 with SL of 5428
for targets of 5466-5484(breakout level on the upside,add positions) 5502-5520-5538-5556-5574-5592.
Sell below 5411 with SL of 5431
for targets of 5393-5375(breakdown level on downside, add positions)5357-5339-5321-5303- 5285- 5268.
Happy Trading ! for targets of 5393-5375(breakdown level on downside, add positions)5357-5339-5321-5303- 5285- 5268.
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