What Chart Says:
Nifty went to retest the previous session low after gapdown opening but managed to close well above the previous session open.
Behind the scenes:
Advance to decline ratio is around 12:38 in nifty 50
FII & DII have both pulled out a small chunk out of today market
All the european & asian markets were flattish to at the time of review
Crude oil continuting its up move
USD/ INR going down which is a good sign
What to expect:
Tomorrow being Friday , expect a possible surprises and trade safe as per the levels with reduced position sizing. Even though the global markets looks still our markets is on both trends.
How to trade today:
1. GAP UP OPENING - First possible resistance is at 15194 and if it is taken out and if it acts as support then we can expect 15273 / 15314 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 15080. Any of these levels acting as a strong resistance can go short with possible lower targets of 14980/14920.
3. Flat OPENING - 15080 is the key level to watch out on flat open any at this level we can take positions in the direction of the trend and sit for targets as marked.
For better Accurate trades use tradershedge indicator:
?? Each levels Act can as possible support and resistance????.
You can trade then on 5 min and 15 min as per your trade set up or you can follow the dynamic entry & exit levels update and triggers from our TradersHedge indicator setup.
The indicator will auto plot the possible reversal zones for intraday & swing trades by analyzing the higher time frames and identifies the zones.
The indicator will also guide you as a GPS system by plotting the possible target zones well in advance so that you can plan your trades accordingly.
You can also check out the Links in the signature for detailed & LIVE updates.
Happy Trading !