Nifty Hourly Chart

Nifty Hourly Chart shows that nifty is trading below the hourly resistance cloud i.e below 5063 which indicates still bears are hiding inside the system.

Nifty 15 min chart

But when we look into the 15 min chart of Nifty spot it shows very short term support at 4986. At this point of time two type of trade is possible. Either short near the hourly reistance 5063 zone with minimal SL say 5080 or short on bearking the 15 min support zone which is currently near 4986 for shorter term positional nifty trades. Trading Shorts should be ignored if nifty is trading above 5063

Related Readings and Observations

• Nifty hourly trading for 20 August 2010
  Hourly charts of nifty remains the buy signal with cloud supports near 5427 zone.Daily charts of nifty remains the buy signal since 10th June 2010. i.e the recent buy signal right from 5075 remains in buy mode for more than 2 months .Current cloud su...
• Nifty maintains the hourly sell signal for 19 August 2010
  Nifty maintains the hourly sell signal with resistance place at 5435 zone. And also spot nifty is holding the GANN Support zone 5410-5415 zone. As of now nifty nears the make or break kind of situation which could be confirmed after crossing the 5410...
• Nifty hourly trading for 17 August 2010
  Chart shows that Nifty hourly mode @ GANN Supports zone 5417-5410. Breakdown below the support zone will target the next support zone 5200...
• Nifty hourly trading for 13 Aug 2010
  Nifty hourly resistance still near 5466 zone and continuing the sell mode. Also in yesterdays action it nears the first GANN Support zone 5375-5370 region. As the GANN Supports are in increasing mode the current supports zone has increased to 5380 zo...
• Nifty hourly trading and Trin Charts
  Nifty hourly trading shows the continuation of the buy mode with hourly supports near 5456. Also the rising trin charts shows that recently there are more declining stocks than the advancing stocks in terms of volumes which indicates the possibilitie...