Trade Plan - April 18, 2012

The VWAP at 5280 and this level will be reversal level for tomorrow. A likely scenario is gap up at 5335 and then consolidation before breaking down below 5280 or gap up above 5335 towards 5410.

Trade Plan - April 17, 2012

Nifty is  stuck within the lower end of the trading band and closes below the reversal level of 5270 today. Tomorrow's RBI policy announcement is going to have huge impact on direction of the market. Bullish range 5270-5345-5400. Bearish range 5265-5135-5090.

Trade Plan - April 16, 2012

Friday the 13th and poor results of Infy became the first indicator of the day of an impending fall following yesterday's revised IIP numbers. Market is set to tank further. Reversal level remains 5270+ for the month of April or until a suitable bottom below 5135 is found.

Trade Plan - April 13, 2012

The intra day level to watch will be 5270 on spot prices for day trading purpose over the next two days. If tomorrow Nifty opens gap up above 5300, likely target is 5250-5380. Gap down opening below 5250 should take Nifty towards 5200 once again. 

Trade Plan - April 9, 2012

Gap down and flat trading thereafter and Nifty taking support at 5305 levels to close just above these levels. The level of 5345 is the reversal level of Nifty on Monday. Targets will be 5395-5445.

Trade Plan - April 4, 2012

Higher support levels being formed and now first immediate support is 5345. Nifty should trade decisively above 5390 now for making move towards 5460 levels in the next couple of days.

Trade Plan - April 3, 2012

Nifty gradually forming higher base on hourly basis on the 3-minute chart and looks good to close above 5380-5440 zone within two trading sessions.  The level of 5290 will be reversal level :)