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Nifty Swing Trade Hourly Chart

by 2 Comments


 

The Chart shown here is a 9 day hourly chart.
As Per this swing chart we are trending upwards only if we are able to close above
4303 and trending downwards if we are manage to trade below 4117 for couple of hours.

Upside Swing :
The previous swing high is 4207 and any trade above 4207 will target 4250 and
any trade above 4303 will target 4450.

Downside Swing :
The Current Swing Low is near 4117. Any trade below 4117 in nifty will target 4000 levels and almost no support below  4117… so even it may take to 3800 levels.

Also bollinger bands showing weaker signal as the candles closed exactly below the
20 period EMA and RSI likely to trending downwards as shown in the hourly
charts. Also as said earlier still the gap at 4090-4120 left unfilled in nifty futures which
will act as strong support
 
If you wanna learn some swing trade you can try out here
http://rajandran.googlepages.com/stratergyswing.doc
 
Happy Trading!!!!
Source:
www.marketcalls.in

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About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

Comments

  1. manish says

    Sir,
    What is the RSI settings in above chart ?
    What is settings like (5,E,3).
    Sir I request you kindly told me detail about this settings,
    because I am new in technical trading.
    Thank you in advance.
    Manish

    Reply

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