We have a close above 5023 this week. We also have three indicators showing a buy. Next week trading above 5023 will target 5115 and 5200. But at the same time world markets are not favoring a buy. Hence did not take a postion and will trade 5023 next week. Buy above this and sell below this level.
Friday, September 2, 2011
NIFTY WEEKLY 05 TO 09 SEPT 2011
We have a close above 5023 this week. We also have three indicators showing a buy. Next week trading above 5023 will target 5115 and 5200. But at the same time world markets are not favoring a buy. Hence did not take a postion and will trade 5023 next week. Buy above this and sell below this level.
Thursday, September 1, 2011
NIFTY WEEKLY CHART- 02 SEPT 2011
Tomorrow if we close above 5024 this upmove will continue next week to 5207.
A closure below 5024 tomorrow and trading below this will see Nifty testing 200 SMA again which is plugged around 4829.
Happy Trading
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