Nifty has continued the positive momentum with a positive close today above 5300 at 5317.90.The close ios above the middle average of the bollinger bands.Also Force Index and Stochastics have moved into positive zones respectively.It looks from charts the positive momentum may continue further on spot nifty.Now stochastics should cross the 60 level mark and sustain above it for nifty to momentum and not fizzle about this level as seen in the above chart.Also the Force index should make a good time graph above the zero line.Intraday traders can look at the levels given below on the spot nifty to trade on 03.04.2012.
No trade between 5300 and 5336(to avoid whipsaws)
Buy above 5336 with SL of 5316
for targets of 5354-5372(breakout level on the upside,add positions) 5390-5408-5426-5444-5462-5480.
Sell below 5300 with SL of 5320
for targets of 5282-5264(breakdown level on downside, add positions)5242-5224-5206-5188-5170-5152.
Happy Trading !
Sir,I wait forAstrological comments or search about market.
ReplyDeleteHI Sir,
ReplyDeleteI astrological commentary can be had at "Vicharmonthan" group on facebook .
Regards
K B Raut