Nifty and Bank Nifty 90 min charts are in buy mode since last thursday early morning. Currently Nifty intermiate supports are at 5000 and cloud supports are at 4956. Exit long positions if nifty close below 5000 on EOD basis or reverse positions to shorts only if nifty closes below 4956 on 90 min timeframe. On the Bank Nifty 90 min charts the ichimoku cloud supports are coming around 9694 on the 90min charts.
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)
Nifty and Bank Nifty 90 min charts for 12th June 2012 Trading
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