Sunday, October 28, 2012

Nifty range break is possible on Monday

Weekly chart ended making  doji at over bought zone
consolidation of 6 weeks range 5640  5740
Traders were cautious
Nifty range break is possible on Monday
5400 or 5900 as per technical indicators  within 10 sessions
wait and watch for RBI policy

Nifty daily chart is slowly turning bearish  and expecting trend line support at 5450.
positional traders may plan their trade for a target of 5450 with stoploss of 5755 closing basis if nifty close below 5700 on Monday .
Go long above 5720 for the target of 5950 if sustains above 5730 .stoploss 5660  closing basis.

Bull trap was noticed in JPASSOCIAT

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