Friday, 4 November 2011

Pre Weekly Just Trade Nifty 07 to 11 Nov 2011

Today being the end of the week was looking at the weekly charts to see if we can get a heads up of how next weeks trading will look before the close of this week which may help in taking postion at the end of the day today if an opportunity arises.

Triangle Formation is seen. Above 5369 Breakout but cluster resistacnes at 5380 and 5391. Below 5263 Breakdown.
Trading Strategy
Buy Above 5391
Sell Below 5263
Trading Zone
Sell Below 5369
Buy Above 5263
Stop as usual 20 points above or below

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Nifty Future Swing Trading-

 Long trade taken at 22254 now stop and reverse at 22951. Entry to be taken at 1 hour candle closing below 22951. Happy trading JT