Nifty in vicinity of 200 DMA

By | July 8, 2011

 

Nifty Hourly

Importance of Support and Resistance market respected both and gave excellent Trading Opportunities.

  1. 5006 Swing Low never Broke showing the importance of Swing low
  2. 5706 Swing High once it broke market took breather absorbed selling and gave a breakout in afternoon trade
  3. Respected 200 DMA@5749 and tomorrow it should be conquered.
  4. Now the only Spoil sport will be corporate results market is going with good expectation and any average result can lead to sell off
  5. Buy on Dips should be mantra now till 5500 is held

 

Nifty Daily

Broke the falling trendline with a close above 5720. Infy results on 12 July will set the tone for market.

 

5787 is 78.2% trendline which needs to be watched.

Levels for today

Buy above 5737 Tgt 5766,5787 and 5800

Sell below 5708 Tgt 5690,5662 and 5641

 

2 thoughts on “Nifty in vicinity of 200 DMA

  1. Bramesh Post author

    Hi Arthur Sir,

    Appreciate your comments.

    To be successful in TA i feel understanding market psychology is the most important thing.
    Controlling your ego and emotions combined with a proper trading system will be a ideal strategy to be successful in trading.

    Rgds,
    Bramesh

  2. Arthur

    There are many in the market who give tips but I really like your technical analysis alot…Im an MBA finance student aspiring to get into equity research. Could you give me some suggestions on How to go about technical & Fundamental Analysis

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