Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty support for this month – APR 2008

40 sec read


 

Nifty CMP : 4647

As shown in the picture,Nifty is having strong support at 4438.
Even if this support breaks then the next support coming near to 4250(see Red Channel- i.e parallel red lines)
In worst If the nifty cuts the Red channel then there is chance of free fall may occur upto 3700-3800.

Also MACD Indicator(Moving Average Convergence & Divergence) enters into the selling signal.

So In short term Nifty in bearish mood. And currently nifty is facing
resistance at 4820. If Nifty breaks above 4820 only there is a chance of upward trend.

Nfity Strategy
If you are going short in Nifty then keep your stop loss at 4820.
Even if nifty bounce back upto 4800 one can try short selling Nifty
by taking Nifty Puts with stop loss at 4820.

Investors
Investors are recommended to stay away from the market until Infosys Guidance.
Infosys Guidance is the key to our market to head upwards

To recieve daily Nifty supports and resistance, Short Term(7-15% returns), Medium Term(20-30%), Long term(40-100%) calls on your mobile Sign up at www.smsgupshup.com/groups/marketbits

Regards,
Rajandran R
rajandran@marketcalls.in

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty and BankNifty 90 min charts update for 16th…

Nifty turns to sell mode on 90 min charts with trailing resistance coming near to the 5500. Similarly Bank Nifty too in sell mode...
Rajandran R
10 sec read

Nifty and BankNifty 90 min charts update for 15th…

Nifty turns to buy mode with cloud supports coming near to 5460-5470 zone. And Bank Nifty still in sell mode with resistance near 10900....
Rajandran R
8 sec read

Nifty Week End Review

Nifty week end review on daily and 90 min timeframe and Nifty Option Details
Rajandran R
32 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More