Friday, October 21, 2011

Nifty Trading Levels for 21-Oct-2011

Hi,
Hope you could catch some good move yesterday on the short side as Nifty achieved all our targets mentioned, giviing us a good 30 pts gain.

Nifty price levels for today's trading are:

Top reversal region      : 5085-5110
Typical Price: 5070
Bottom reversal region : 5035-5055  

How to trade?
Monitor price closely and see which side is getting weaker and trade against it.

Trading the Top Reversal region:
1. if Nifty reaches in the Top reversal region, but is unable to trade above 5110, that means the bulls are becoming weak. look for shorting the market once it falls below 5085, Target will be 5070 & 5055, Stop Loss (SL) will be 5110.

2. if Nifty reaches in the Top reversal region, but is unable to trade below 5085, that means the bears are becoming weak. look for going long the market once it crosses 5110, Target will be 5125 & 5145, SL will be 5080.


Trading the Bottom Reversal region:
1. if Nifty reaches in the Bottom reversal region, but is unable to trade below 5035, that means the bears are becoming weak. look for going long the market once it cross above 5055, Target will be 5070 & 5085, SL will be 5035..

2. if Nifty reaches in the Bottom reversal region, but is unable to trade above 5055, that means the bulls are becoming weak. look for shorting the market once it falls below 5035, Target will be 5015 & 5000, SL will be 5055.


Have a profitable day.