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 :)

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.