Trading plan for 5th May 2016 in Indian Stock market NSE Nifty and Bank Nifty
Yesterday was a day of low ranges,so today explosion may occur in either direction.
Before taking any trade watching the opening of Europe is preferable today.
Trading plan for today in Nifty is as given below
Nifty CMP at 11:15 is 7730.25
Its a buy above 7761 and sell below 7701.
Bank Nifty CMP is 16303.15
Time to create new longs will be when it goes over 16400.
Shorting will be done if it dips below 16184.
These are my trading plans.I may not trade in both but levels are given only for reference.
One more thing is that we are near break zone so move in either direction will be rewarding and may continue for many trading sessions.
Update at 11:53 AM Dow and Europe futures are green .Now trade can be taken on breach of these levels before 12:30 also.
Update at 3 : 25 PM : Did not initiate trade asBank Nifty never went above the buying levels
Yesterday was a day of low ranges,so today explosion may occur in either direction.
Before taking any trade watching the opening of Europe is preferable today.
Trading plan for today in Nifty is as given below
Nifty CMP at 11:15 is 7730.25
Its a buy above 7761 and sell below 7701.
Bank Nifty CMP is 16303.15
Time to create new longs will be when it goes over 16400.
Shorting will be done if it dips below 16184.
These are my trading plans.I may not trade in both but levels are given only for reference.
One more thing is that we are near break zone so move in either direction will be rewarding and may continue for many trading sessions.
Update at 11:53 AM Dow and Europe futures are green .Now trade can be taken on breach of these levels before 12:30 also.
Update at 3 : 25 PM : Did not initiate trade asBank Nifty never went above the buying levels
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