I don’t prefer trading around the strong pivot points but use pivot points as point of reference for defining support, resistance and stop loss.
I don’t prefer trading around the strong pivot points but use pivot points as point of reference for defining support, resistance and stop loss. In Nifty I see a strong pivot point around 5600 and I would like to see Nifty going away from 5600 either on the upside or downside and for me to open position in Nifty.
On June 17th when I looked at Nifty charts I knew 5600 is a long term resistance for Nifty.
As of today June 30th 2011 after 2 days of good up swing from 5500 to 5600, today Nifty again consolidated around 5600 levels with low of 5605 and this is actually a no trade zone for me as of now. Nifty is in a short term down trend. See the charts below.
I prefer trading along the trend and so if Nifty cracks 5600 decisively I would go short in Nifty with recent peak as my stop loss but for long position I would ideally like to see Nifty take out the previous peak but I don’t expect that to happen any time soon.
What are your views of the market?
Charts by Yahoo Finance
hi,
you r to good,
one request sir if u don’t mind of will u join google online group name as
https://groups.google.com/group/intelligent-investor-forum
there is 2000+ well knoledge membar,we also very benificial for each other
thxxxxxxxxxx
regd,
deepakgajra
Deepakgajra, I have applied for the membership. Let me know how can I be of help to your Google group members.
heyy… thanks for posting
Excellent content
Mr. Shabbir pls. inform the rate of ur. book & u teach me the stk.mkt.
Its normal price is $19.97 but currently have an offer of 10% discount and so you can get it for $17.97. See http://shabbirbook.com/technical-analysis/
If you are looking to pay in Indian Rupees do let me know and I will email you the details.
i want to buy your book by paying in inr.using netbanking pl guide me.
thanks
keshav
Keshav, I have emailed you the detailed instructions link for payment options in INR using NEFT or DD