The Market outlook for 5th December

Trading the nifty on 5th December

The European markets have not performed well on the last trading session. The DOW too has not made any significant move . The Nifty appears to be making a consolidation effort. From here the nifty could attempt to cross 5900 levels which is also a possibility given the current trend. In the event of crossing this hurdle it could clear 5920 till 5933

On the downside 5869 is a good support  if this is taken out levels of 5856 and 5843 could be tested.

Crude-oil trading levels for 5th December

For the intraday traders the crude oil can be bought once it crosses 4867 and wait for targets 4879 and 4890 since the crude is showing sideways trend  we cannot expect a very high level above 4900. On the down side one can initiate short below 4844 for targets of 4832 and 4812.

Happy trading!!

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!