Monday, August 8, 2011

NIFTY FUTURES: NEXT MOVE




WEEKLY CHART OF NIFTY


Present RSI Value 37 on Week Ending August 5, 2011

Today’s GAP DOWN in NIFTY would make Reading Still Lower, may be in band of around 35 -37; which confirms that Market is OVERSOLD at Present.

Prior Experiences suggests that Prices needs to give Bounce from Here, Even During 2008 worse Fall, FIRST Prices bounce before Falling again, which confirmed the Down Trend.

Otherwise ALSO, IF Market needs to Fall again / More from Current Levels then also First It has to show some Bounce from Current Levels.

Trading Strategy - GO LONG in Parts from Here for 5300 - 5500


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6 comments:

  1. Kartick DeyAugust 8, 2011 at 12:02 PM

    Sir R u sure, If I long Nifty then I make profit..

    ReplyDelete
  2. praveenAugust 8, 2011 at 12:10 PM

    buy nifty 50% at 5100 and 50% at 5020 and stop losss 4960 and hold possition short tram target 5200+++

    ReplyDelete
  3. hitesh gyanchandaniAugust 8, 2011 at 12:28 PM

    how can u say tht its a long position in nifty give me a suggestion of what i m doing in current position of nifty and a tatasteel

    ReplyDelete
  4. mayurAugust 8, 2011 at 1:13 PM

    wht im seeing this day ,nifty open in gap and later fill those gape and again coming down ,why this happn is this mean that on all upside get short bulid up.../

    ReplyDelete
  5. mayurAugust 8, 2011 at 2:18 PM

    sir as i was said y filling those gapes

    ReplyDelete
  6. RAJEEV KALRAAugust 8, 2011 at 2:53 PM

    sure, nifty is going to bounce back, no panick of shorting

    ReplyDelete

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