Jan 17, 2010

How to use Camarilla Level published on my Blog

There are various scenarios that can occur

Scenario 1
Open price is between H3 and L3

For Long
Wait for the price to go below L3 and then when it moves back above L3, buy. Stoploss will be when price moves below L4. Target1 - H1, Target2 - H2, Target3 - H3

For Short Sell
Wait for the price to go above H3 and then when the price moves back below H3, sell. Stoploss will be when price moves above H4. Target1 - L1, Target2 - L2, Target3- L3


Scenario 2
Open price is between H3 and H4

For Long
When price moves above H4, buy. Stoploss when price goes below H3. Target - 0.5% to 1%

For Short Sell
When the price goes below H3, sell. Stopless when prices moves above H4. Target1 - L1, Target2 - L2, Target3- L3


Scenario 3
Open price is between L3 and L4

For Long
When price moves above L3, buy. Stoploss when price moves below L4. Target1 - H1, Target2 - H2, Target3 - H3

For Short Sell
When the price goes below L4, sell. Stoploss when price moves above L3. Target - 0.5% to 1%


Scenario 4
Open price is outside the H4 and L4
Wait for the prices to come in range and trade accordingly.

How to trade Nifty and Bank nifty on 18th Jan

Nifty above 5273 can be considered safe for taking long position for 5284/5294,if nifty
hold with volume.

Trade to be executed on 18th Jan
Short Nifty at 5260 Level
Long Nifty at 5246 Level

Bank Nifty above 8982 will be taking long position 9001/9064Downside support exist at

8870.Below which you can take short position.

Trade to be executed on 18th Jan
Short BankNifty at 8943 Level
Long Bank Nifty at 8875 Level

Nifty future important levels for Monday, 18th January:
R3 5295 R2 5283 R1 5268 PP 5256 S1 5241 S2 5229 S3 5214
Bank Nifty future important levels Monday, 18th January:
R3 9106 R2 9053 R1 8981 PP 8928 S1 8856 S2 8803 S3 8731

Nifty Camarilla Levels for Monday, 18th January:
H4 5268 H3 5260 H2 5258 H1 5255 L1 5251 L2 5248 L3 5246 L4 5238
Bank Nifty Camarilla Levels for Monday, 18th January:
H4 8978 H3 8943 H2 8932 H1 8920 L1 8898 L2 8886 L3 8875 L4 8840