Nifty Sensex Trading Tips For Week Starting 21 May 2012
Is the Downtrend Over?
Nifty and Sensex are both in Sweet Spot Now
Rise in Both Indices cant be ruled out as both have jumped from an oversold state
A fresh trend of decline is not ruled oiut as global indices are still in a chaos over Europe.
So which Way?
Nifty which last closed at 4891 is bullish only if trades above 4950 for an hour.
This does not mean that nifty should be shorted at current levels
Short Nifty Only if it trades below 4875 for an hour .
Do not initiate Trade between 4875 and 4950
As the Trade is going to give Whipsaws .
Sensex Last Close :16152
Sell Below 16140 and Buy Above 16405 only if trades above or Below these levels for at least an hour .
Is the Downtrend Over?
Nifty and Sensex are both in Sweet Spot Now
Rise in Both Indices cant be ruled out as both have jumped from an oversold state
A fresh trend of decline is not ruled oiut as global indices are still in a chaos over Europe.
So which Way?
Nifty which last closed at 4891 is bullish only if trades above 4950 for an hour.
This does not mean that nifty should be shorted at current levels
Short Nifty Only if it trades below 4875 for an hour .
Do not initiate Trade between 4875 and 4950
As the Trade is going to give Whipsaws .
Sensex Last Close :16152
Sell Below 16140 and Buy Above 16405 only if trades above or Below these levels for at least an hour .
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