Trading Nifty with Camarilla Pivots...!

[linkon7]

We had a boring session today with just 30 range. We closed above the low of the last 2 days and also above the high of yesterday. We finally broke the lower high - lower low streak and tomorrow open can set the tone for the rest of the week. OI stands at 2,47 cr (increase of 3.3%). Range continues to squeeze and todays 31 point range makes it the narrowest range in the last 14 days.

BTW, the up move was with 19% reduction in volumes. So thats a spirit dampener.

4939 has become a very reliable support and has been tested 4 times and this will remain the level to watch for tomorrow session.

regression channel points to 4972 as the trend decider level for tomorrow, with immediate target of 5076.

 

[linkon7]

The cam levels for today are :
H4 :5,007.54
H3 :4,998.52
L3 : 4,980.48
L4 : 4,971.46

It being a very narrow range day, we will concentrate on the breakout zone only. i.e buy above 5008 or sell below 4071.
L3 and H3 will act as stoploss only.

 

[linkon7]

Bot at 5006...
Sl 4998...

 

[sachinsamani]

Bought at 5010. Waited for first 5 min canlde to close.

 

[linkon7]

exited 50% @ 5030...
SL 5015...(2 points below crucial level of 5017)

 

[sachinsamani]

Me out at 5032. more than 50% retracement in CCI.

 

[linkon7]

Me out at 5032. more than 50% retracement in CCI.

Normally, cci has to fall below zero and stay there for min 6 candles for a confirmation for trend change. till then i plan to hold 25%...

 

[sachinsamani]

i should have held 50%. Sold all at 5032. (Lesson of the day.)

 

[linkon7]

exited 25% at 38...

cci broke horizontal support line

 

[linkon7]

exited balance at 5047... double top...in cci