4851 Nifty spot was the point where buyers came in force last week.
4824 Nifty Future is our Mp pivot which we have been speaking about for the past few days.
Hence 4824-4851 represents a good buy zone and should be watched for signs of buying.
On the other side lies 4882 Nifty spot and 4889 Nifty Future.
Look for the market to trade between these points.4824-4889 Nifty Future.
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11.20.
watching this reaction off 4831, reasonably close to our 4824. can it get above 4855? Bank Nifty to stay above 8910.
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11.40
resisted twice at 4855 so far.
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1.35
It's been 2 hours since the last attempt at 4855.
Inability to take out this level will put the pivot at 4824 in danger, which can point to lower prices ahead.
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2.05
NF is playing a game of touch with 4855.Touching & retreating, touching & retreating..5 attempts now from 11.00 am.
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2.20
Risk-reward does not favor a new short entry here.
If you are willing to take risk, stop is 4855.
Tuesday, May 25, 2010
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21 comments:
Sir,
Its weekly pivot or monthly pivot at 4824?
Sara,
Pivots are pivots..there is nothing weekly or monthly about them in MP.But yes, this one is a few months old.
Dear shai, how can we take yr levels for trading? Is it that we sud go long near 4824 or short if 4824 is not held??
Plz clear
Bizagra,
Currently longs will be safe above 4855 with Sl below 4824.
Shai, i m having positional shorts @4920, wht sud be my positional sl?
What's your timeframe Bizgara for the trade?
If you are a short term player like me, my strategy would be to book profits here and re-enter on the break of 4820 NF or at higher levels above 4900.
Thanks Shai
One more chance given us to enter at 4826.30, and now moved upto 4841.. powerful level....
Dear Shai, i exited my shorts at 4840 as u gave. Now will short on break of 4820 or on rise? Can we get 4900 to short again??
Sara,
Three pull backs from 4855 so far.
Next attempt it will go through. currently 4846.
Bizagra,
4855 is crucial for longs. Above that 4875 and 4897.
Very good support and resistance level u given today.. Nifty dance in between this two level for almost 3 hours...
Shai,
First I Thank for ur quick reply Yesterday on my position so that I can be out today without any loss.
I sincerly thx U for all ur efforts.
Nf just touched & crossed 4855 level but cant sustain
yt nxt? u sugest?
Musti,
My pleasure.
What next?
we wait for a resolution. Have an open mind we will play it both ways.
Shai I short Nf again when it not breaks 4855
yt should be my target for this trade
as it already break 4824
Musti,
Book some here at 4825 and see if you get bal at 4809. keep Sl at cost + a few.
Thx shai booked out @ 4808
shai whtr Mp lvls fr 2mmrw
Manu,
4894-4854-4808.
It's finalized only at EOD.
Hi,
When will this fall stop ?
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