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...

Friday, December 2, 2011

2.12.2011 Friday

The week ended on a good note with a good rally .In fact today's swift move was also a surprise when the expected was a consolidation day and another of those days when it jolts you that the market is always supreme.
The expected move till 5100 - 5130 zone looks reachable with no immediate resistances upwards.
Stochastics ,though showed a divergence ,moved past the TL and has turned upwards.Signal for the next high should surface in the next few days.
And one more probable upmove till 5230-40 area if global cues are stable.

My expectation for the move forward is

5060 - 5100 (61.8%R) -5130 (at juction of downsloping TL and majenta UML) - 5050 ( previous wave minor swing high resistance turned support line) - 5200 ( Junction of current Main ML and UMLH of previous median line set)

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