Nifty is in sell mode since 8th Aug with trailing cloud resistance coming near to 4786 and 8545. Today the major suppot zone in nifty 4700 also breaks. So one should be careful in their shorts if nifty regains above 4700 again on eod basis which is the early sign of trend reversal.
Rajandran R Follow Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Nifty and Bank Nifty 90 min chart update for 19 Dec 2011
11 sec read