Nifty Analysis And Bank Nifty Analysis For 23rdSep2011

Indicator 
-----------------------------
Nifty Monthly  Oversold -Bearish (until 5350)
Nifty Weekly   Bullish (bearish below 4900)
Nifty Daily    Bearish


Trend Indicator
--------------------------------
Nifty Monthly Long above 5526(HEMA) and 5081(LEMA) (TREND UP ABOVE 5244)
Nifty Weekly  Long above 5166(HEMA) and 4923(LEMA) (TREND UP ABOVE 5014)
Nifty Daily   Long above 5104(HEMA) and 5037(LEMA) (TREND UP ABOVE 5041)
Nifty Hourly  Long above 5020(HEMA) and 4986(LEMA) (TREND UP ABOVE 4992)


JNSAR
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Nifty Weekly JNSAR 5047 -stay short
Nifty Daily  JNSAR 5060 -stay long
Nifty Hourly JNSAR 5063 -stay long


Nifty Havala Level
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4840 (August Closing)


Nifty Aggressive Trading
---------------------------------
Range 91  max 4832  min 5014
STOP LOSS 15-20 points only.


Support and Resistance
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4680-4784-4810-4865-4951-(5006-5011)-5057-5114-5182-5225-5296-5350-5393-(5433-5460)-5490-5502-5532-5539-5550-5580-5606-5616-5630-5658-5667-5729-5754-5775-5865-(5940-5965)-6090-6175-6250-(6325-6350)


Open Interest 
-----------------------
Support    4700/4800
Resistance 5100/5200


Trade Conclusion
--------------------------------
Only above 5045-5060, maintain long position .........
Nifty may face  resistance at 4932-4957 /5011


Below 4910 /4890 => Extremely bearish 
Pullback can happen around these levels. Add short on pullback.


Stop-loss is an essential risk control mechanism and it should always be there.
Part booking help you to manage risk.


Hope that helps .Take care .Have a happy trading.
Bank Nifty Analysis on http://tradeinbankonly.blogspot.com