We have done excellent intraday trade today.
The banknifty now back to its usual swing after a long time.The opening we made a sell exactly at the high at 10755 and covered the same at 10684 and again sold at 10740+ level covered the same at 10686 and like wise we made 5 trades and made 175 + points profit in intraday trading.The intresting fact is we kept a SL in a technical level at 10764 and the market breached upto 10759 but our stop loss was safe and not triggered.During the 2.30 pm-we also made a sell at 710 level and bought the same at 10640 level.
We are also giving 'Nifty trade tips" for free and today we made 60 points comfortably without sl hit.All our clients were really delighted and that made us more delightful.
What we can expect for Tomorrow-17.08.2010?
The nifty was move down to 20 sma and also closed down to it.which is very weak and it has the next strong support level at 5360.00 if break down this a fresh correction starts and we also need to consider Reliance,Sbi& icici movements tomorrow.
The banknifty seems to be a reversal as it faced a double top and the closing today was down to the 400 ema.As i said the SBI shows some correction will pull it down to 10440 level soon.if it trade below 10530 the weakness will be firm.Today the PNP shown great strength,was up about 2.30+%..inspite of this the banknifty was closed weak.I feel the banknifty many times breaks away all technical prediction.For example last thursday it was down to 10300 level and within 2days went to the all time peak of 10755+ levels.What i mean is a kind of gambling is on in this index future.
So play safe with proper stop loss...one wild swing may wipe out all your capital.The individul traders can not trade this without guidance or expertise.we wish you to take support from us.