Nifty Today - 20-10-08 (update 4)

We are here with attaching the intraday chart of Nifty (11:00 - 15:35). We had marked our points of recommendations in the chart itself.

As per the analysis given in our todays blog one would have done 4 successful trades
1) Go Long above 3165 to the first target of 3194. (29 points)
2) One can go for second trade above 3212 for the target of 3234 (20 Points)
3) Next trade opportunity: one can short below 3162 target 30 to 40 points (40 points)
4) one can go short below 3092 _ _ _ with the target of 3056. (34 points) ( -2 pts to target)

These are the trade calls given and one would have made profit of Rs. 6,150/- per lot (123 points) in Nifty futures.

More than this, You can observe in the chart that we have mentioned a black arrow, which clearly proves the power of technicals. ie as per today's update 1, we had asked to be cautious at 3212, you can witness strong reisitance over there.

Also Todays intraday High is 3238 ( + 4 points of Long target) and intraday low was 3258 (- 2 points of Short target)