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Nifty Trading targets -13th May |
samminc
White Belt
Joined: 11 Sep 2007
Posts: 13
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Post: #1  Posted: Tue May 13, 2008 7:46 am Post subject: Nifty Trading targets -13th May |
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Nifty futures has achieved the bearish target of 4920 levels (4923 was the low for 12th). The only concern is the pull back in the last half an hour of trade which lacks conviction. Also the AD ratio is in favour of Decline. The upside target for 12th was 5037 which was also achieved. Hence our recommendation for nifty futures trading on 13th May will be as follows:
1. Buy nifty futures only if it crosses and trades above 5057.
2. Book profits when nifty comes close to 5085 levels.
3. Short nifty only when nifty trades below 4968 levels.
4. If nifty trades below 4968 levels open positional shorts for the first target of 4920.
Happy Trading
Samminc |
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