Monday, May 23, 2011

Trade Plan - May 24, 2011


Negative global cues and Nifty opens gap down and the down ward momentum continues to break last week low and close @5386. VWAP at close is 5400.

1) Now Nifty is in dangerous territory of breaking down swiftly if 5310 is not held.
2) Reversal level for tomorrow will be above 5445 only and closing above 5475.  Intra day support of 5365 is crucial tomorrow.
3) Nifty has traded below 5-EMA level again today and bias turns negative. The 5-EMA level at today's close is 5440. Happy trading!
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2 comments:

  1. r mMay 24, 2011 at 12:12 PM

    Hi Vinod!
    Googled you out successfuly. :)

    ReplyDelete
  2. VKMay 25, 2011 at 3:47 PM

    Hi RM:

    Thanks for your comment and welcome to an amateur views of Nifty :)

    Regards

    Vinod

    ReplyDelete

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