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 10, 2010

Nifty entered reversal zone..


Good strong move for a positive close on Friday .However Monday's followup action is critical for the momentum to continue..
Resistances expected at 5930 -5950 where some consolidation can happen.Strong moves above 5950 will push prices to next level of 6110 marked in daily chart.Time taken for consolidation near 5950 will give clues about breakout or breakdown towards earlier lows.
15 min chart 10.12.10
Daily Chart 10.12.10

Long positions taken today at breakout of 50 sma in 15 min chart. Target 1 @ 5930 -5950 levels.
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2 comments:

  1. veerDecember 15, 2010 at 3:09 PM

    Hi Kavima,

    Great. Your target has come precisely.
    How do you see from now on?

    Regards,

    Veer

    ReplyDelete
  2. KavimaDecember 15, 2010 at 5:30 PM

    hi veer
    yes the median line targets got hit perfectly but bad luck to me.My long positions stoploss got hit on Monday.Could not enter again on the same day on the breakout again.So kept out of this swing.Tried entry in banknifty and was whipsawed out of the trades.Today I've entered a short at 5912 NF.Will post my charts for probable targets.
    Thks for yr feedback.

    ReplyDelete

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