SRK TRADING CALLS: NIFTY VIEW FOR THIS WEEK

GOLDEN TIP FOR BEGINNERS

WHEN A INDEX OR SCRIP OPEN ,LOW ARE SAME AND HIGHER THAN PREVIOUS CLOSE {REMEMBER MUST BE HIGHER THAN PREVIOUS CLOSE} , THEN DON'T SHORT THAT SCRIP WHERE AS IN OTHER WORDS , YOU CAN TRY LONG IN THAT COUNTER

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WHEN A INDEX OR SCRIP OPEN,HIGH ARE SAME AND LOWER THAN PREVIOUS CLOSE {REMEMBER MUST BE LOWER THAN PREVIOUS CLOSE} THEN DON'T GO LONG IN THAT SCRIP WHERE AS IN OTHER WORDS , YOU CAN TRY SHORT IN THAT COUNTER

DISCLOSURE:- THIS IS MY PRACTICAL OBSERVATION IN MY TRADING JOURNEY AND I PUT THIS AS A THEORY FOR MY OWN TRADES , THIS IS NOT ANY ONE'S , OR NOT WRITTEN IN ANY TECHNICAL BOOKS
SOME COPY CATS COPYING THIS
TOTAL SENTENCE TO THEIR BLOGS OR WEBSITES
SO, IT IS YOUR RISK IF U DO ACTIONS ON THIS THEORY

Sunday, March 21, 2010

NIFTY VIEW FOR THIS WEEK

HI FRIENDS,

AS TOLD HERE : - CLICK NIFTY MOVED WELL ABOVE 5200 AND NEARER TO 5300 BY MAKING A HIGH OF 5269.95 { WHERE AS IN FUTURES MADE A HIGH OF 5281 - 19 SHORT OF 5300 }ON FRIDAY INTRA DAY FOR POSITIVE NEWS FROM FED AS WELL AS THROUGH ADVANCE TAX NUMBERSAS SAID IN LAST WEEK POST ,RSI REACHED ABOVE 70 { LAST WEEK @ 63.13} , SO STAY CAUTIOUS AS RBI INCREASED REPO & REVERSE REPO BY .25 BPS.

FOLLOW 5170 SL , SELLING PRESSURE @ 5300 BECAUSE OF MANY ANALYSTS LONG CALL IN JANRUARY HIGH @ THOSE LEVELS, THE TRADERS WHO STRUCKED @ THOSE LEVELS CAN PUT PRESSURE BY THEIR SELLINGS CLOSE ABOVE 5300 FOR 2 DAYS WILL GIVE TGTS OF 5360 5400 AND NEXT 5550

PIVOT @ 5254.27 FOR MONDAY WHERE AS WEEKLY PIVOT @ 5208.97

AS PER TIME ANALYSIS , NEXT REVERSAL WE CAN EXPECT ON FRIDAY 26TH MARCH 2010 REVERSAL EITHER A HIGH OR LOW ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND

20 EMA @ 5097.36 & 50 EMA @ 5036 WILL TAKE SUPPORT IN PANIC SELLING IN COMING DAYS WHICH CAN HAPPEN ON FRIDAY REVERSAL DAY