January 10, 2011

Nifty Futures Support level

CHART-II
  • Support line mentioned below has been violated.
CHART-I
  • Nifty Futures 4 hour time frame with 200 period moving average and the trend line support.
  • Nifty Futures does get support below the 200 period moving average in four hour time frame.
  • So if NF has to go down more it should break the trend line shown in this time frame. Twice we had good up move from this trend line So it may happen again. 
  • One has to be cautious while going long because counter trend trades are the most riskiest so keep a tight stop loss. If the trend line breaks one should get out of the long trade.
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1 comment:

  1. UnknownJanuary 11, 2011 at 8:51 AM

    I think,The Indian mkt is fully dependent upon FII.When they want do any thing with mkt.

    ReplyDelete

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