Nifty Under Bear Attack

By | May 4, 2011

Nifty Hourly Chart

RBI does it again for which market was not prepared for.Raising the the REPO and Reverse REPO by 50 BPS and markets tanked heavily.

Market did not discounted the news and Nifty tanked.

If we look at hourly charts on Nifty following observation can be noted down:

1. We are approaching a support zone of  5460-5555 which should provide support.

2. Osillators and Indicators are oversold

So a relief rally should come either today or tomorrow which can take us back till 50 SMA@5630.

 

Daily Chart

On Daily Chart we are are can stop the fall at rising support trendline around 5530.

On Daily chart we need to fill gaps which have been pointed on charts till 5530. So once the gap gets filled till 5530 we can except a good bounce back.

Nifty has been falling continuously for a 6 days and a pull back if and when comes should be used to exit longs.

Today watch out for 5642 on NF Trading above it will give a BUllish stance.

 

Nifty is bullish for the day only above 5610 for the Day

Buy above 5610 Tgt 5624,5679 and 5700

Sell below 5555 Tgt 5530,5454 

 

 

Levels mentioned are Nifty Spot.

 

If you want to learn how to trade in Nifty Profitably based on trading system in Intraday and Positional Basis you can contact me @09985711341

 

 

6 thoughts on “Nifty Under Bear Attack

  1. Bramesh Post author

    Dear Sir,

    We do not belive in giving tips.Our main motto is people should trade on there own rather than depending on someone else.
    Its your money at Stake so why you should depends on others call to play with your money.

    If intrested in Learning TA i can be of help to you.

    Rgds,
    Bramesh

    Rgds,
    Bramesh

  2. Bramesh Post author

    Hi Abhishekji,

    .Well we do not provide any paid service as whatever stock we likes are good we update on site.

    I am unable to update many stock ideas and Nifty view due to time constraint. To fill that void I have started Teaching TA so that people can trade on there own without having dependance on others.

    I take only 1-1 sessions and training is done on weekends only.

    Rgds,
    Bramesh

  3. Bramesh Post author

    Dear Abhishekji,

    Please keep sl of 5620 on all your shorts

    Rgds,
    Bramesh

  4. abhishek

    Hi Sir,
    Should we use pull back rally to again short thr Nifty?

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