Nifty Daily Chart
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1)Nifty on the daily chart on the buy mode with wide supports ranging from 5400-5440 zone
2)Nifty 90 min charts tuned to sell mode on last Thursday and currently with trailing resistance coming near to 5500 zone
3)Still 5300PE and 5400PE maintains higher open interest among all the nifty options strike price. And 5400 PE holds the highest OI built up among the two which shows that put writers are confident of holding nifty above 5400 for this expiry and even if there is a correction on EOD basis it could extend upto 5350.
4)As usual too much external noises ( Japanese Earthquake, IIP numbers, Inflation, Libyan crisis, oil ,Gold crisis and much more to confuse you on making your trading decisions on nifty. Next week factors not to watch while taking a Nifty trade… Credit policy (March 17, 2011) and advance tax nos from large cap companies (March 16, 2011 onwards).
Nifty 90 min Charts
Hi Raj !
I see difft. Ichimoku. Have u change modified the your previous code with arrows. If yes, please paste the link.
Slide below 5400 could kill the nifty.
Thank You Rajandaran, as always.
Exactly Sandew eod timeframe will turn down if nifty closes below 5420-5440(approx figures)
As always i give weightage to smaller timeframes so my concentration will be on 90min charts rather than eod charts.
Please check out the percentage of change of OI is higher in 5500 CA & 5200 PA as compared to 5400 PA. So the scene now shifts to the range 5200 to 5500.
The percentage of rise in OI in 5200 PE is higher as compared to 5400 PE and also the in 5500 CE, thus Nifty will certainly oscillate between 5200-5500. Please check out Mr. Rajendran.
Sir ,
How to trade nifty with 90 min. timeframe , i mean the exit point is almost near to entry levels , so should trade fut, or options or some other stratergy . pls guide . tx.