April 29, 2010

BANK NIFTY Technical analysis

  • BANK NIFTY is trading near resistance line.
  • rising support line should support any fall and the bullish engulfing should also support the bulls view.
  • breaking the support line will bring the index down to 8000 levels.
  • breaking resistance line will propel the index to 10000 levels.
Thank You

HDIL channel trading opportunity

  • HDIL is trading near the bottom of the channel.
  • one can go long with a stop loss of 258 for a target of 285 minimum.
  • channel lower boundary should be the stop loss. The reason for this trade is the channel, If the reason is not valid don't stay in the trade.

NIFTY technical analysis for 28th april 2010

  • NIFTY has broken down from the triangle formation.
  • Now smart traders will look to sell on every rise. Safe trade will be to short near the 5300 area with a stop loss of 5330.

NIFTY Hour in a triangle

  • NIFTY hour has formed a triangle 
  • MACD may give a buy signal this can be confirmed with the break of the trend line.
  • keep 5210 as stop loss.