Few observations for Nifty trading in followup of the last post-
1. Monday's close was below the SAR given of 5885 . Those who were short EOD, got a good trade upto the target S2 ,5795 (also apprx. 20dema) , mentioned in the Volume Profile chart in the last post.
2. Near 5795 level , compelling technical signals were there to take a long trade upto the SAR level . Please see the intraday chart below. Today's close is also below the SAR. Check the support levels given in the last post - Click here
3. For tomorrow's trade SAR of 5885 may be adhered to again and managed with a 20 point buffer . The 2d ,5d and 10d volume profiles are in tandem to justify it.
4. 5885 is also the approx. Important Trendline resistance being mentioned in the previous post.
5. Last three days of trade have been with Lower Highs and Lower Lows on Daily charts. but the Hourly charts are showing the higher lows pattern.
6. Taking a guess for the Expiry of the series, it may be above 5830 levels and below 6000 level . (5900 +/- 50)
Trade Light untill the range of 5740 - 5940 resolves on closing basis.