| MY TEMPLATE FOR TRADING NIFTY | ||||||
| WEEKLY | DATE - 27 AUGUST 2011 | |||||
| CANDLE | GAPPED DOWN, BEARISH, BOTTOM OF DONC CHANNEL | |||||
| MACD | BELOW 0 | SELL | ||||
| STOCS | 14.45 | SELL | ||||
| RSI | 25.61 | SELL | ||||
| DAILY | ||||||
| CANDLE | GAPPED DOWN, BEARISH BIG CANDLE, DOWN OF DC CHANNEL | |||||
| MACD | BELOW 0 | SELL | ||||
| STOCS | 14.66 | SELL | ||||
| RSI | 19.1 | SELL | ||||
| HIGH VOLUME NODES | 4850 | 4890 | 5080 | |||
| TRADE | ||||||
| ENTRY | ||||||
| TYPE | ||||||
| WHY | ||||||
| EXIT | ||||||
| WHY | ||||||
| CONCLUSION: | All the averages are negatively aligned. Price structure says we are in a downtrend. We have had a rally in US markets after the closing of Nifty. Hence the opening may be positive. High volume nodes may prove to be resistance. I don’t have any positions right now and would look at shorts at higher levels. These levels would be around the high volume nodes. But on daily charts reversal candlestick is yet to form. | |||||
Saturday, August 27, 2011
My template for trading Nifty
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