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NIFTY UPDATE

                                                                      NIFTY UPDATE



1.Last two hour played very crucial pattern on nifty
2. There was hammering sentiment on lower time frame 
3.RSI is trying to give some  early signal of bounce , but  haven't confirmed yet
4.Risky trader can trade at this stage ,buy using strict stop loss .
5.As we have small body day , nifty is give trading opportunity , so one can buy nifty above 6010 sl 5985 tgt 6030 -6057 and close above 6057 will give us an idea to create positional long at least for 4-5 days.
6. On the other hand if it breaks 5960 sell nifty with sl of 6006 tgt 5960-5920-5880
7. If we open gap down at or near 5920-5880 then buy nifty with sl of 5875 and hold it with sl through out the day and lock  at least 30 rs as trailing stop loss .
8. on 18-11-2013 it was lower low close on 5989 so medium term trend is down.

note : the above mentioned level are cash basis.

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