Monday, March 24, 2014

Trading in 100 points range since last 10 days

Trading in 100 points range since last 10 days ..range break out will be 300 points plus or minus …longer will be consolidation greater will be range break ..only speculation can be done for range break that it will move towards 6200  or 6800 …better will be follow  trend  trade with stop loss and lock profits with trailing stoploss or book them on each opportunity .  Bears tried to bring nifty prices down below 6500 twice during last 10 sessions but failed to take it towards 6300 and below .see at chart


NIFTY_Daily_23-03-2014


Gap up opening is expected with choppy session ahead as expiry week started and big players /options writers will try to encash full decay benefit  in options prices ..


Trade in Nifty futures as per these levels


Buy at / above: 6549   Targets: 6569 – 6598 – 6618
Stoploss : 6528
Sell at / below: 6528   Targets: 6509 – 6487 – 6463 – 6443
Stoploss : 6549


 



Trading in 100 points range since last 10 days

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