Thursday, August 11, 2011

Trade Plan - August 12, 2011


Nifty trading within the range of 5110-5185 and closes below the median of this range @ 5138. VWAP @ close is 5133.

1) Views remain same as yesterday and the range extension above 5185 should take Nifty to 5240-5280-5350.
2) Below 5110, support levels will be 4975-4890-4820.
3) Bias is down overall and tomorrow some short covering can be expected if there is gap down opening. Global cues are very bearish and the volatility is high. Happy trading :)

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