Monday, January 16, 2012

WILL IT REPEAT THE SHOW ?

As shown in above chart in recent past nifty made bullish move on Tuesday. On 3 Jan. it rose by 2.8%, and on 10 Jan it rose by 2.3 %. Will it repeat this bullish move on tomorrow also. Today after opening lower down due to global cues nifty taken support near weekly pivot and daily S1 ( first support according to pivot point) and then closed above Friday's close, there is high probability that it will make bullish move tomorrow ( since short term trend is still up ) and may target 4940-50 ( weekly R1 according to pivot point ). As usual this trade should be managed by intraday price movement. 

  DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

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