Trading the nifty on 4th December

Trading the nifty on 4th December

The Nifty has formed a Tweezer top pattern which is a sign of reversal. The volumes too have dropped to half of that of the previous session. However we need confirmation signal in the coming trading session. Today the world markets are not very positive and the current trend may show a reversal.

As a guide to the chart posted below I would like to explain my system as one has to enter trade only when a trend sets in. and quickly exit as the targets are achieved. 

I have also added Bank Nifty to the list

NIFTY	Target >>	1st	2nd	3rd	4th	S/L
Buy above	5888	5901	5914	5927	5940	5888
Sell below	5863	5850	5837	5825	5812	5863
BANKNIFTY	Target >>	1st	2nd	3rd	4th	S/L
Buy above	12126	12144	12163	12181	12200	12126
Sell below	12089	12071	12053	12034	12016	12089

Happy trading!

Trading the nifty on 3rd December

Trading the nifty on 3rd December

As I wrote in the last post the nifty has seen higher levels. The volumes particularly has been very good. The sustainability of this level is still a question that remains to be answered.  The pivot level is at 5864. If the Nifty continues with the current trend the targets of 3^rd and 4rth are possible. If profit booking comes in then 5852 and 5839 are to be seen.

NIFTY	Target >>	1st	2nd	3rd	4th	S/L
Buy above	5877	5890	5903	5916	5929	5877
Sell below	5852	5839	5826	5814	5801	5852

Happy trading!

Trading the nifty on 30th November

Trading the nifty on 30th   November

The Nifty has done well on the last trading session. Now the question is how well it would stay in the upper zone or will it sustain these levels. However in the coming session the nifty is poised to clear some more hurdles and see a higher level. The pivot level is at 5798. Therefore if the Nifty opens up  well above the pivot level  then 3^rd and 4^th  targets could be seen.

NIFTY	Target	1st	2nd	3rd	4th	S/L
Buy above	5811	5824	5837	5850	5863	5811
Sell below	5786	5773	5761	5748	5736	5786

Happy trading!