Tuesday, September 20, 2011

Trade Plan - September 21, 2011


Nifty reverses to positive bias above 5070 in the morning session and gains momentum to close near the high of the day at 5140. VWAP @ close is 5110.

1) The momentum should continue above 5150 for target of 5190-5230. Reversal will be below 5110 levels only.
2) Below 5110, support exists at 5070-5020. Happy trading :)
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3 comments:

  1. AjjuSeptember 20, 2011 at 4:50 PM

    Hi, Sir

    how do you see the support may you please guide me too.

    Thanks
    Ajay..

    ReplyDelete
  2. VKSeptember 20, 2011 at 5:45 PM

    Hi Ajay:

    The trend of Nifty is always up above 5-EMA level closing. Now from intra day perspective remaining above 5110-5135 zone Nifty can go up another 100 points to 5235 levels. These are purely technical levels and lot of trading is news based and cyclic in nature for different time frames and changes on hourly basis. So trade according to your time frame and comfort level. I am mainly focusing on intra day plans and give importance to short term EMA (5-EMA, 10-EMA levels).

    Regards

    Vinod

    ReplyDelete
  3. r mSeptember 20, 2011 at 9:17 PM

    Thanks Vinod!

    ReplyDelete

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