iCharts Discussions

[rameshraja]

Nifty Futures is making lower high and lower low for the last five trading sessions ever since Key Negative Reversal was made on 12.08.2008. Yesterday's last one hour pullback from day's low has trigerred the weekly short SL.

Today's trading is going to be for traders who can take risk in market. I think market will have a wide range for trading during intraday and my sense is, one can buy NF around 4360 level with SL at few ticks below yesterday's low of 4331. For shorting the NF, one can do that around 4445 with SL at 5 points above Monday's high of 4459. ( This 5 points is taken to avoid any whipsaw after crossing Monday's high).

NF is crucially placed as of now. Breaking yesterday's low it could fall to 4270 - 4180 and crossing Monday high of 4459, could trigger a big upside to 4570.

Nifty Range for the Day: 4360 - 4580


In case if the market is up today, look for DLF crossing 505 in futures rate to trade on long side with suitable SL from RT chart.

Best Wishes

C T RAMESH RAJA

[cypandya]

gr8 analysis sir...
plz keep updating

Rgrds,
bhaumik pandya

[tangotaurian]

RR sir thnx a lot for ur view

[nitinak]

RR sir thank you for keep posting your view. Sir it will be very useful to ichart members for trading.

Once again thank you and hope that we all will be get your views daily.

With Warm Regards,
Nitin Kaklotar
Surat