Thursday, September 15, 2011

Trade Plan - September 16, 2011


Nifty climbs up in the last hour after threatening to break below 4950 levels to close @ 5076. VWAP @ close is 5022.

1) After an indecisive morning session, Nifty picked up in the second half of the day to close well above the  resistance level of 5070.
2) Now reversal level for Nifty tomorrow will be trading below 5030 and above 5070 should go to 5110-5150.
3) The chart uploaded today gives the bullish perspective of a possible target of 5270-5330 in case the RBI policy announcement tomorrow is accepted positively by the market. The key to this is Nifty closing above 5110 on the weekend tomorrow.  Happy trading :)
Posted by at

2 comments:

  1. r mSeptember 15, 2011 at 9:35 PM

    Thanks Vinod, that chart is very good looking with GMMA brand dupatta. :)

    ReplyDelete
  2. VKSeptember 15, 2011 at 10:10 PM

    Hi RM:

    Thanks for the comment. The GMMA dupaata is not going to go up, as this move is not going to last now, the fuel price hike shocker ahead of the RBI policy today evening will put the brakes on Nifty :)

    Regards

    Vinod

    ReplyDelete

Subscribe to: Post Comments (Atom)