Tuesday, November 17, 2009

November 18, 2009, Nifty

Nifty just managed to make a higher high and a higher low. However it was a doji candle. Stay long, move stop loss up, but keep stop losses strict. Be prepared to switch to short if needed.
Trading Strategy: Stay long, move stop loss up to 5010. If Nifty breaks 5007, go short with a stop loss at 5077.
Supports: 4860, 4804, 4611
Resistances: 5077, 5182

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