Morning Mantra --- Nifty Future

Manual trading requires a great deal of skill and discipline. It is tempting for the trader to deviate from the strategy, which usually reduces its performance. When developing a trading strategy, many things must be considered: return, risk, volatility, timeframe, style, correlation with the markets, methods, etc. A trading strategy is governed by a set of rules that do not deviate. Emotional bias is eliminated because the systems operate within the parameters known by the trader.

 Congratulation!

Good Morning and Happy Trading.

RBI will announce its first quarter monetary policy today. A majority of market participants do not expect any major policy action including change in policy rates or CRR. Risks to inflation remain from unsatisfactory monsoon. While RBI did not indicate to cut rates amid the ongoing threat of high inflation rate.

Today Market will be very volatile. Trade today very cautiously……………

Today above 5224 1^st resistance is 5236 to 5239………

If able to cross this level with volume then next vital hurdle will be 5281 to 5284………….

3^rd August, Friday we may see an unexpected level in Nifty Future. 

If Nifty Future fails to cross 5224 today or just after opening touch 5236/5239 and start to fall then?????

Day’s 1^st vital support is 5181/5178/75…………

If break and start to trade below 5172 then next immediate support is 5166—5160.

If close below 5160 then we may watch panic upto 5116—5110—5104.

More reversal points for our subscribers only.

Kolkata, Bengal. 04:31 AM 07.31.2012