Sensex

Wednesday, February 03, 2010

Re: SPAM-LOW: Re: [Technical-Investor] Be causious on Nifty : But good sign of further upmove

 

Hi Ash,
 
I do not trade bank nifty and does not track it very closely but this also looks good, but need to be causious, today its already trading in +ve teritorry and if it closes +ver tomorrow also then a buy is confirmed.
 
Overall it looks good to me but most of the trend following indicators are in -ve territory, So it makes be bit confused too, but same time those indicator does not give reversal signal in advance, I will suggest not to trade this till anyone is 100% confident for taking a trade.
 
if you have opne trade you might use the following levels (on daily charts)
 
Levels are 8568/8716/8849/8881.
 
if you do not have any position then I will not recomend to trade Banknifty, but better trade Nifty.
 
Regards.
Sneha.
 
----- Original Message -----
Sent: Wednesday, February 03, 2010 1:26 PM
Subject: SPAM-LOW: Re: [Technical-Investor] Be causious on Nifty : But good sign of further upmove

 

Hi Sneha,
 
What be your view on Bank Nifty ?
 
Cheers !!!!!!!
 
Ash
----- Original Message -----
From: Sneha
Sent: 03/02/2010 11:29 AM
Subject: [Technical-Investor] Be causious on Nifty : But good sign of further upmove

 

Dear Friends,

I am sorry I was not in town yesterday so was unable to reply to few of our friends.

Now nifty is trading above its 50% Retracement of 4917 (which is taken from low of 4531 and high of 5303).

This is critical resistance for Nifty , the next target for nifty will be 5008 and 5110.

Support side nifty has support at 4826. (this is major one, nifty has aredy tested this level 4 times, so if it closes below that then there may be short term worry and market can head towards 4600 (but again this is short term, long term market is bullish)

Use of stoploss : As per my experiance and suggestion, whenever you put a stoploss put it few points away from its actual stoploss, otherwise you might see that it hits the stoploss and again goes back to its level.

Recomendation: Today's market is very volatile, if it sustains then its really good for market and might be a new rally upwards, but same time if it falls then 4600 is not rulled out, so i will suggest to stay out for today as it has already 90+ point high.

If anyone is needs techincal view support and resistance then please mail me, i will try to provide it as soon as possible.

Today I am online so you can expect quick reply and again its FREE so do not hesitate.

Note: This is just personal view if you are trading on this, please trade use your experiance, expertise and trade on your own risk.


Regards,
Sneha

 

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Posted by nsivaa at 12:49 AM

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