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Thursday, December 15, 2011

NIFTY BULLISH FALLING WEDGE IN HOUR CHART/ POSITIVE DIVERGENCE

Nifty bullish falling wedge formation in hourly charts, the support comes near 4650 odd levels, a break above 4774 would confirm short term reversal on the index, might target 5090-5100 odd level.
Price behavior in nifty suggest another bullish possibility in the form of positive divergence in both MACD and 9RSI, if nifty manages to hold on to the support line indicated in the above chart, these divergence would ensure a good run for the bulls at-least in short term.

Nifty is holding the current lows also favors the possiblity of Gartley pattern in day chart posted earlier
refer link.
http://buzzingnifty.blogspot.com/2011/12/nifty-trade-setup-for-week-12-17dec.html

3 comments:

kuheli said...

Is your long trade and falling wedge set still valid?

Sonal Jain said...

• Oil prices dip after reaching June highs on U.S. crude stock draw.
• Gold prices gain in Asia after ADP jobs report misses expectations.
• Financial markets in Shanghai will be closed for a national holiday for whole week.
CapitalStars

sandeep capitalstars said...

We may see an extended buying opportunity soybean futures (June) near 3745 levels Mcx tips

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NIFTY STOP AND REVERSE TRADING STRATEGY

NIFTY SAR(STOP AND REVERSE) FOR THE NEXT DAY IS POSTED ON DAILY BASIS ON FACEBOOK GROUP NIFTYHOLIC.

ALL VALUES ARE FOR SPOT NIFTY, TRADE THE FUTURES ACCORDINGLY

SAMPLE SAR

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SAR FOR 23RD MARCH,

SELL NIFTY BELOW 5405 AND GO LONG ABOVE 5430

IF HOLDS ON CLOSING BASIS

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PART BOOKED @5385=120 POINTS OR 6000 RS.

CLOSED THE POSITION ON 22ND MARCH @5405=100 POINTS OR 5000 RS.

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