September 9, 2010

Nifty Futures Intraday Update I

  • The hour chart is getting ready for a big move.
  • Breakout from the apex of this pattern can give good direction.
  • Normally these kind of patterns break the support line and gives a correction. But nifty hasn't shown any weakness till now. So both trades are possible from here.
  • Those who are long from sub 5500 can hold their longs with trailing stop losses. Fresh longs are possible only after a breakout. 
  • Breach of the hourly trend line can trigger a short sell. A bigger short trade is possible if 5566 is broken in NF.

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