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!
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