Nifty and Bank Nifty turned to buy mode at the first 90 min of the trading week. Currently the cloud supports are near 5198 and 10145 respectively. But still both nifty and bank nifty are currently trading below the intermediate zone 5277 and 10333 respectively. Close above the resistance zone could warn a clear trend reversal for shorter timeframe.
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 30 April 2012 Trading
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