For Day Traders / Swing Traders
The Nifty rallied on Tuesday, justifying a buy suggestion given on Monday evening. On Tuesday, the Index opened at its lows and closed at its highs. This one day pattern is either (a) continuation signal in an uptrend, or, (b) likely resistance in a downtrend. Since we are in an intermediate downtrend, tuesday's price action suggests resistance is likely to come in on wednesday. The strategy should be to sell into strength. Strength may also be defined by a mildly 'overbought' position in intraday oscilaltors. Professional traders might like to develop this concept further.
For Everyone:
The Nifty has been making a pattern of lower highs, lower lows. The previous high was made at 2870. A close above 2870 will change the intermediate trend to up. Any rally will again face resistance at 3150. The target for the current down move is 2450.
This is Sudarshan's blog - sudarshanonline.com. It discusses the technical analysis of Indian Stock Markets emphasising on online day trading and futures trading strategies.

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Blog Archive
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► 2011 (202)
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► October (28)
- Answers to comments oct31-11
- Process of Consolidation Likely
- Nifty Pattern Targets Reached
- Happy Diwali
- Stock Selection (based upon their historical volat...
- M&M Consolidation
- Niftnear ORB Trade
- A dip in an ongoing up trend
- TATA Motors Life Cycle
- Hindalco touches support
- Mystery of the missing trailing stop
- Nifty Live Oct 12-11
- Point and Figure Charts
- Aiming for a better trade
- Long term view of Nifty
- Zen stories for Traders
- Hero Motor Corp at its support level
- NR 7 in Nifty Weekly Chart
- trading with a gap open
- Silver Pushes against Resistance
- An unusual continuation pattern in the Nifty
- Sudden Rally
- Nifty at 4750
- There is a time to be old and a time to be bold
- Afternoon review
- Nifty - Long Term View
- Higher High - Higher Low pattern in CNX IT
- Bear market shows its strength
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► October (28)
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▼ 2009 (293)
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▼ January (30)
- 2009: Welcome to February
- Before the Open
- Trading is Fun!
- Are large traders destroying the market ?
- One day rally ?
- Getting ready for tomorrow
- Difficult Times - Continued
- Difficult Times
- The Swing may be up
- Intermediate Trend continues down
- Missing in Action
- Nifty trades in a Narrow Range
- Wise After the Event
- Friday Markets, did you buy ?
- Examples & explaination
- This is an intermediate down trend
- Below 2800
- How I trade for a Living
- Going to Zimbabwe ?
- Forecast 2009 - Deflation and Recession
- SHould you trade in Satyam ?
- Placing Stops on Strong Stocks
- There are people who want your money
- It happens only in America
- Bullish at the Top
- Short Term Trading
- Did you Buy at 2975 ?
- Are the bulls coming ?
- Take it Easy
- The Bulls are returning!
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▼ January (30)

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