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, January 13, 2012

13.01.2011 Friday

Price did finally break out of the resistance at 4880 to reach 4900 zone and closed positive for the day.The zone is still an indecision zone if we go by PF analysis.

Positive view-
Price above 50 SMA inside ascending main PF. ..still in uptrend
Broken out of the temp PF so the upmove may continue. within the new channel created.
4800 zone is the support level for the upmove.

Negative view - It's touched the trigger line and yet to cross it with momentum.Still in resistance zone.Looking at stoch indicator (35,3,3 ) , there is a probable divergence which indicates a top being formed...

The finale should unfold with monday's action.

Reduced 30 % of my shorts and balance hedged with calls,so will be taking a call on monday.

have a nice weekend..
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2 comments:

  1. veerJanuary 15, 2012 at 9:39 PM

    Hi Kavima,

    Wish you a Happy Pongal.

    Regards,

    Veer

    ReplyDelete
    Replies
    1. KavimaJanuary 16, 2012 at 8:07 AM

      thks veer.Wish you and yr family a happy pongal and wonderful year

      rgds

      Delete

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