Wednesday, 19 November 2008

Buy Nifty on dips: Nirmal Bang

According to Nirmal Bang's Morning Call, for intraday traders, buying is advisable on dips with a stop loss of (2580) and on the higher side 2745 will act as a strong resistance level.

Nirmal Bang's Morning Call:

Technically, if we study the five day pattern, nifty is forming “lower top lower bottom formation” which is indeed a negative sign. As the markets are continuously breaking their important support levels on the daily basis, it has become difficult to identify the support.

We are in a classical downtrend and our sense is that (2580-2500) region should act as a crucial support for nifty in Nov series. Every rally should be utilized to create new short and exit market.

For intraday traders, buying is advisable on dips with a stop loss of (2580) and on the higher side 2745 will act as a strong resistance level. A trade beyond this range with huge volumes may decide the trend for coming days.

Source: Moneycontrol

1 comment:

  1. Share trading is very easy if proper hardwork & study is there.If you want to make quick money in market then always trade in blue-chip stocks.never trade in highly volatile & illiquid stocks.Because may be these stock can give you good return but once you stuck in these stocks then you will loose your capital too. SHARE MARKET FREE TIPSBefore trading always select a scrip you want to trade & then give at least half an hour to that particular script after market.This will tell you how the script moved in whole day.Do this atlest 15-20 days.After some time you will get the levels on which it get support& resistances or the range that it is showing .Try to invest half of your investment amount to that script & If price comes down then make the average with your remaining amount.Then wait for a good level for the script.Never trust anyone advise with checking his credibility &accuracy. This will the best process by which you can make a handsome profit without risk.
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