Technical Views - Equities 21st July 2011
NIFTY
TREND : It is clear that Nifty is consolidating and the major range of this consolidation is 5550 - 5670, so approximately 120 points range and consolidating for 6 days now. We will trade the breakout of 5550 - 5670 for a 120 point target which ever side it breaks. Since the range is fairly large from intraday perspective we also can take sell signals around 5650 - 5670 and buy signals around 5550 - 70. for small targets.
SIGNAL : use buy and sell signals of TDI BS near the range
BANKNIFTY
TREND : A positive chart turned negative with a clear bar reversal. This pattern of trading can take BankNifty to 11000. For today support is at 11130 and resistance is at 11250
BANKNIFTY
TREND : A positive chart turned negative with a clear bar reversal. This pattern of trading can take BankNifty to 11000. For today support is at 11130 and resistance is at 11250
SIGNAL : use buy and sell signals of TDI BS
CESC
TREND : We are short on CESC at 334.5. The SL for the same is revised to 334 and target 325.
SIGNAL : use only sell signals of TDI BS
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Please follow us on twitter @topdataindia
For a free demo of our TDI BS signals and other products please contact 9717555433 /466
SPECIAL NOTES
WHAT IS A BUY OR SELL SIGNAL WHICH WE KEEP MENTIONING IN OUR DAILY TECHNICAL VIEWS ?
We at TDI have created a proprietary logic based on technical analysis which generates buy and sell signals on Intraday charts. We call this logic as TDI BS aka TOPDATAINDIA BUY AND SELL. So when i say "Go Long only on Buy Signals we mean to say, When on an intraday chart a Buy signal appears based on TDI BS. We should take a long position in the scrip/future/commodity we have mentioned.
Why am i giving this reason today after a couple of months. I received lot of calls/chat messages mentioning that my GTL call went wrong. That's the time i realized that i have given views but haven't made an effort to educate people on the trading style which i follow. Infact i got a negative remark on my yesterday's heading GO LONG ON BUY SIGNALS ONLY.
Thus i will be covering this portion in all my blogs so that new readers are not mistaken and make losses in a scrip while at the same time we never entered a trade in the same.
Happy Trading, please email me on info@topdataindia.com incase u have the slightest doubts. Your feedback will and can make this blog really useful. And also if you like it please ask your friends to join too.
WHAT IS A BUY OR SELL SIGNAL WHICH WE KEEP MENTIONING IN OUR DAILY TECHNICAL VIEWS ?
We at TDI have created a proprietary logic based on technical analysis which generates buy and sell signals on Intraday charts. We call this logic as TDI BS aka TOPDATAINDIA BUY AND SELL. So when i say "Go Long only on Buy Signals we mean to say, When on an intraday chart a Buy signal appears based on TDI BS. We should take a long position in the scrip/future/commodity we have mentioned.
Why am i giving this reason today after a couple of months. I received lot of calls/chat messages mentioning that my GTL call went wrong. That's the time i realized that i have given views but haven't made an effort to educate people on the trading style which i follow. Infact i got a negative remark on my yesterday's heading GO LONG ON BUY SIGNALS ONLY.
Thus i will be covering this portion in all my blogs so that new readers are not mistaken and make losses in a scrip while at the same time we never entered a trade in the same.
Happy Trading, please email me on info@topdataindia.com incase u have the slightest doubts. Your feedback will and can make this blog really useful. And also if you like it please ask your friends to join too.
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