NIFTY TRADING SYSTEM

November 9, 2009 by dharmendra ghaghda ,    Contact dharmendra ghaghda
Filed under: Daily Outlook, Educational, Overall market, Stock Trading, Uncategorized, Weekly Outlook  253 views


Nifty opened today with a very positive to upward biased @ 4819 up almost 20 points. It tested support at the low of the day @ 4780. But very quickly gathered momentum to break pass 4825 taking Nifty all the way to above 4900. It closed almost at the high point of the day @ 4905.

Nifty gave a very positive close above the resistance @ 4850 area. Closing above this important level makes way to much higher levels. If the upwards momentum continues, then 5050 – 5100 is very much achievable. On the downside, 4750 area acts as a minor support for now.

Our view on Nifty Futures is Bullish for now. We can very expect 5050 – 5100 area to be challenged in couple of days if the momentum continues. And on the downside, a close below 4750 is negative and take the Nifty all the way down to 4525 area.

Our closed trade for today:
Bank nifty:
Bought @ 8540 ( 05.11.2009 ) – SOLD @ 8940 ( 09.11.2009 ) = PROFIT 40,000/-

For a reliable, trustworthy ,and accurate trading calls visit www.aaksharstock.com and register for a free trial.Our trading system is positional based system trading approx 7 – 8 times per month only, giving consistent profit per month.

We have maintained trade by trade performances along with Equity Curve and ROI(Return on Investment) for last 21 months.It can be viewed at the following links:
www.aaksharstock.com/equitycurve.html
www.aaksharstock.com/roi.html





  

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