January 20, 2011

Nifty Futures intraday update


  • Nifty Futures hour chart is showing a descending triangle
  • This pattern is a bearish one
  • But considering the oversold status of nifty this may breakout on the upside too.
  • One has to wait till price break the resistance or support line for taking a trade.
By at

4 comments:

  1. LakshmiJanuary 20, 2011 at 10:58 AM

    Dear San

    What is the price of nifty future above which we can take a buy?

    Regards

    ReplyDelete
  2. SanJanuary 20, 2011 at 11:07 AM

    @Arvind
    Price should trade above 5750. Just a breakout may not be enough. hour should close above it and sustain there.

    ReplyDelete
  3. UnknownJanuary 20, 2011 at 11:27 AM

    Where Reliance industries will take support after trainagle downward breakout

    ReplyDelete
  4. SanJanuary 20, 2011 at 12:40 PM

    @Sujay

    950 and 915 are the support levels for reliance.

    ReplyDelete

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