Nifty outlook for 16 march

Tuesday, March 15, 2011

A further radiation threat from nuclear reactors caused almost 110 point gap down opening in Nifty today, which went further down to ~ 150 point.

Nifty recover from there and presented a perfect buying opportunity @ 10:26 AM when it crossed from lower BOLL Band to UPPER band. Exit signal from this position can be taken from falling RSI and flattening Bollinger band shape.

Nifty offered second opportunity to enter by shorting @ 2:38 PM  ~ 5480 level with RSI falling(~40) and exit around 5440 level.

Nifty 2min chart

Nifty 5 min chart

The really big money tends to be made by investors who are right on qualitative decisions but, at least in my opinion, the more sure money tends to be made on the obvious quantitative decisions. - Warren Buffett


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