Nifty has brokendown but Bears be on the vigil

If Nifty does not trade below 5440 today, we will exit our shorts. And wait for another opportunity to short

Technical Views - Equities 18th May 2011

NSE NIFTY1
TREND : We are short on NIFTY but will exit the position incase Nifty does not trade below 5440. We feel this could be a false breakdown and Nifty reverses its trend. Today's trading is very tricky. Play shorts below 5440 and reverse positions if Nifty trades above 5440. To judge when to switch, let the Nifty trade for 10-15mins above or below 5440. This is a good indicator for the stability of 5440
SIGNAL : Do not use Buy Sell Signals of TDI BS today

NSE BANKNIFTY1
TREND : Enjoy your profits in BankNifty and remain short with a stoploss of 10900. The breakdown is confirmed and the target for the same is 10350- 10050
SIGNAL : Both buy and sell signals of TDI - BS can be used for the day to make profits. 

NSE CNXIT1
TREND : CNXIT hasn't broken down yet. Trades can be done on the break of the range of 6540 - 6685. Confirmed breakdown happens below 6450. Wait, Wait and just wait for levels to break
SIGNAL : Both buy and sell signals of TDI - BS can be used for the day to make profits.

Your feedback & comments are always welcome. For any issues with  understanding the newsletter content please mail us on info@topdataindia.com
Please Like US on Facebook
Please follow us on twitter @topdataindia
For a free demo of our TDI BS signals and other products please contact
Yahoo IM : topdataindia | Gtalk : topdataindia | Phone : 9717555433 / 66