Trading with Median lines is a system and a leading indicator suitable for Swing trading.I am following this strategy for Nifty and Bank Nifty with good results.Those interested to trade with Charts and Price action to analyse target price, support and resistance levels will find this strategy very interesting.

Feedback welcome!Happy trading...

Thursday, January 6, 2011

6.01.11 Nifty continues its move down

60 min chart
Price moved further down and has hit the 23 .6 % Fib line support within the lower channel.A bounce at these levels upto UMLH is a possibility.If the price is resisted at 6120-6135 at the UMLH and falls another short term swing down is expected.

Daily Chart 6.01.11

Next levels expected is 38.2 % R @ 6000 levels and further down 50 % support @ 5950 levels

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