Saturday, October 29, 2011

Weekly Trading Levels for Nifty

Hi,
We gained 80 pts last week as Nifty achieved all our targets on the upside.
On Friday, Nifty opened gap-up but remained bearish throughout the day.


Nifty price levels for the week: 31 Oct to 4 Nov,2011

Top reversal region      : 5420-5505
Typical Price: 5335
Bottom reversal region : 5245-5160  

Trading the Top Reversal region:
1. if Nifty reaches in the Top reversal region, but is unable to trade above 5505, short Nifty once it falls below 5420, Target will be 5335 & 5245, Stop Loss (SL) will be 5505.

2. if Nifty reaches in the Top reversal region, but is unable to trade below 5420,  go long on Nifty once it crosses 5505, Target will be 5590 & 5675, SL will be 5420.

Trading the Bottom Reversal region:
1. if Nifty reaches in the Bottom reversal region, but is unable to trade below 5160,  go long on Nifty once it crosses 5245, Target will be 5335 & 5420, SL will be 5160.

2. if Nifty reaches in the Bottom reversal region, but is unable to trade above 5245, short Nifty once it falls below 5160, Target will be 5075 & 4995, SL will be 5245.

Happy Trading.