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 24, 2010

Nifty inching up....



Todays move by nifty was a good rise from the low made in the morning.It's a typical Buy day with the lower low than yesterday made in the morning session and closing higher than yesterday.The probability of a good gap opening on Monday is very high.
60 min chart

The prices got supported at the Lower Median line Parallel (LMLH ) . The price action looks set to go upwards till it is within this ascending green pitchfork .Trend can reverse when this trendline is broken.
Higher targets are at 6037 / 6100 / 6140 / 6160 levels.

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1 comment:

  1. veerDecember 24, 2010 at 10:20 PM

    Hi Kavima,

    Thanks for updating daily. It helps to compare my work with yours.

    Regards,

    Veer

    ReplyDelete

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