MTECHTIPS
WWW.MTECHTIPS.COM
07489294118/119
Mtechtips NIFTY FUT intraday trading analysis 4-9-2012
Nifty spot today closed at 5253 with loss of 5 points or –0.09%.on daily chart still holding support of 3 month average. today nifty hit high of 5295 and low of 5243 after opening gap up profit booing once again made pressure on market. for short term traders, short side still looks profitable and below 5340 nifty will take deep dive upto 5185-5150. on our swing nifty system, nifty 3 days chart given sell signal on momentum oscillators and that suggest target of 4970!! for intraday, resistances are now at 5275 and 5356 while on downside supports are 5195 and 5115.on following intraday nifty point and figure chart we see consolidation base at 5240 where 3 month average comes.
day traders below 5280 stay short for multiple small downside targets.
sharp and big move will happens if slip below 5205 on closing basis!
momentum is bearish but trend still up!
No comments:
Post a Comment