Monday, April 29, 2013


Almost flat opening is expected with possibility of choppy session ahead ,  as nifty is trading at crucial level.  Falling trend line and 20 week moving average will try to pull it towards south but  speculators will try to hold it  above these levels ahead of RBI credit policy due on 03 May . As the RBI gets ready to unveil its monetary policy for fiscal year 2013-14, the expectations are huge as it comes in the backdrop of a sharp correction in gold and oil prices, the two biggest contributors to India’s Current account deficit (CAD). 5870 at spot is fib retracement level, if spot will move below 5870 then  bears will take control and Nifty will slip to 5820 30 level . Bearish harami candle was spotted at last eod  chart .

Trade in Nifty futures as per these levels

Buy at / above: 5909   Targets: 5926 – 5945 – 5964 – 5983
Stoploss : 5890
Sell at / below: 5890   Targets: 5874 – 5855 – 5836 – 5816
Stoploss : 5909

How to make money from trades  …

First of all watch the market and try to find out its trend , is it bullish  bearish or neutral/ range bound or choppy . Check volatility if it is there or not . If trading in range find out  its top and bottom  and  if range will break will it move up or down. If in range bound market , you  feel for possible breakout then buy at lows and place your profit booking orders near or below top of range with strict stop loss below your buy level. Incase you are predicting for break down always go short with sl with profit booking order at bottom of range once exit place sell order again at top of range.


If you are seeing an established trend then never place profit booking order just enter in trade and trail by stop loss order …Chart is showing that reliance capital was trading in range 336 – 340  till 2 PM . after 2 PM break out was seen and moved all the way from 336 to 356 .. the chart is best example both range bound and trend trading during intra session.

You can add your ideas for benefit of others ,  either at chat room or  comment here …do not hesitate …come up and grow with Dhanvarsha .


1 comment:

  1. Thanks a lot for expressing a positive opinion on a manufacturing stock after a long time....Nifty Outlook


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