Friday, August 12, 2011
SGX NIFTY & NIFTY ON 12-08-11
- SGX Nifty closed near the Highs . Nifty may open strong here .
- The first Resistance zone is the 5165-75 zone . If gaps up over it and sustains then may test the 5225-50 zone . Above 5225 apprx is the Gap area upto 5330.
- This seems to be the final leg of the retrace upmove ( which may last a couple of sessions more ) hence Positional traders should start entering with the largerTrend that is Down .
- After the Gap up or strong move , if trades below 5165 ( HVN ) will be bearish.
- Keep 5165 as SAR tmrw. and Trade the chart below.
- Monday is a Trading Holiday so dont take any positions home in the wake of global uncertainity.