Nifty and Bank Nifty are in sell mode since this monday. And for todays trade we are concerned with the intermediate resistance zone 200MA and not much with ichimoku cloud resistance. Currently the intermediate resistance comes near 5283 and 10333 respectively. Reverse your positions to longs only if the intermediate resistance breaks.
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 charts for 25 April 2012 Trading
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