Trade Plan - April 2, 2012

After expiry of March series around lows yesterday, Nifty made an U-turn and once again went above 5235 to close at 5295 levels and seems to be in some sort of recovery mode ahead of the yearly results of India Inc. in the crucial month of April. The April series will be bullish above 5250 levels once again.

Trade Plan - March 29 and March 30, 2012

The level of 5235 has been the fulcrum around which Nifty has been stuck over the past couple of days. Today it has made a double bottom by testing the previous low of 5170 on spot. A small bounce back can be expected towards 5235-5285 which could be the March series expiry figure. Also the month of March is coming to end. The rally towards 5410 could happen with short covering on the last day of the month after the expiry of March series.  

Trade Plan - March 26, 2012

Nifty in the first hour itself broke down below important level of 5235 support (50% retracement of recent swing ) and closes at lows of the March series at 5180. The concerns for market are quite many now and only good corporate results can take this market up if they are good. Market is fairly valued now and stocks should be bought into for long term (2-3 years perspective). Now reversal level for Nifty futures is spot trading above 5210 for targets of 5320. Below 5170, Nifty could easily fall to 5100-5000 levels now.

Trade Plan - March 26, 2012

Trading well within yesterday's lower half range, Nifty did manage to trigger long with MACD indicator above 5250 for 5310 on spot price. Reversal level for Monday is 5320 for targets of 5375-5420.

Trade Plan - March 23, 2012

Another day when global cues with domestic bad news of coal scam emanating and Nifty tanking heavily. Thanks to MACD the day was saved without clear cut signal for bullishness. Those who were on the right side of trade minted money from bad news.  Plan for tomorrow is not to trade below 5295 which is reversal level to long positions. Nifty might break down to see 5150 levels tomorrow.  

Trade Plan - March 22, 2012

Nifty giving good trade today with the MACD signal when technical averages/conditions are met. Systematic implementation of the trading style will reduce trades and may be a few trades in a month should do the trick for a trader and have a peaceful time.  Plan for tomorrow is to remain long above 5310 levels. Below 5310, Nifty will become bearish once again.

Now the second chart of Nifty futures the slow stoch is getting into positive territory along with MACD on the larger TF of 4 hours. This 4-hour TF needs to be watched carefully for whipsaws and is a confirmatory signal for getting the trend right on closing basis.

Trade Plan - March 21, 2012

Today's post is focusing more on the intra day trade set up and likely opportunities for intra day trading. Now plan for tomorrow is trading above day high level of 5297 for fresh intra day longs and follow the indicators MACD and Slow Stotchs.