tryin2trade: NF Hourly Chart....Sell The Rally or Buy The Dip???

Tuesday, April 20, 2010

NF Hourly Chart....Sell The Rally or Buy The Dip???

4 comments:

Anonymous said...: Hi Manoj...thanks for the chart.

Can i requst you to repeat that write which you mentioned on the chat......its not clear..unable to read....plz explain the chart in words...kindly...thanks a lot.; April 20, 2010 at 12:13 PM
Tryin2Trade said...: Dear Anon,

This is whats written on the chart

"This is the hourly chart of Nifty Futures and as we can see, we are at hourly oversold levels...looking at a tradable bounce!

The overhead resi is at 5236 approx in the form of the 200 MA....Above that we have the falling 20 and previous support now will turn resi at approx 5245/47 level!

One can look to sell these rallies or one can play small intra longs...take your pick...but be faithfull to your stops!!!

A rise from here and then a break of recent low can give a nice divergence trade (long) but that will be whEn it will be....till then

TRADE LESS TRADE SMART!"

Cheers!; April 20, 2010 at 12:17 PM
Unknown said...: Hi Manoj thanks for the nice chart.
can you please suggest a cost effective TA software and Real time data vendor. i am trying 2 learn TA.

THANKS IN ADVANCE; April 20, 2010 at 1:32 PM
Tryin2Trade said...: Gopalkrishnan Hi

Head straight to

http://tradeinniftyonly.blogspot.com/

They do some amazing charting on excel....nothing can get cheaper than that and ofcourse its fun too...

Then there are whole lot of resources for eod charts;

I use

http://www.icharts.in/home/

they have a good service (paid) for real time charts!

Cheers!; April 20, 2010 at 1:36 PM

Subscribe to: Post Comments (Atom)