April 23, 2015

NIFTY futures intraday charts

- Break of day's low by big bar was first short signal (8460F)
- Some hints of weakness were visible in the first box
- Trailing SL hits around 8400F
- Long trade shown at first UP arrow
- Stopped out by big bearish engulfing bar (second box).
- If not exited here, then break of 8390 F would be exit level




Same chart with kplswing indicator with N=3 on 5 min charts. Note whipsaws when nifty is rangebound.



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