Thursday, August 25, 2011

Trade Plan - August 26, 2011



Nifty has a volatile and range bound session today between 4830-4890 with negative bias after gap up opening at 4915. VWAP @ close is 4865. Nifty spot closes at 4840.

1) August series expires on a negative note closer to the lows of the year 2011. Now 4890 remains the major reversal level for targets of 4950-5045.
2) Below 4830, major support level will be 4790 and 4770.
3) A weekly chart of spot Nifty has been analysed and  important levels for  September series will be 4790-5070-5350.  Below 4790 levels,  strong possibilities for testing 4570 opens up. A close above 5070 is required in the earning season kicking off in the first week of September 2011 for the market to get buyers back.  Happy trading :) 

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