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Wednesday 26 March 2008

Nifty Intraday Shorting Setup - 25 March 2008

A very strong market with index not relenting can be seen represented with the trend line drawn. A couple of pre-anticipated shorts with tight stops in fact failed. Finally around 2 p.m. nifty gave a good dip breaking the original trend and went into a little consolidation where a short initiation was recommended for a very small target of 0.236 or 23.6 per cent retrace of 4807/8 and this was perfectly met.

A previous article of Fibonacci Retrace is worth reading here once again. Even in the best of roaring markets, we do get dips worth trading sure shot for small targets.

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