Nifty update for 26-03-2010

Nifty Trend based on Option Analysis

The probability of going up is 70.12 % and going down is 29.89 %

TREND IS UP

Nifty (April) future premium has increased from 1.40 points to 16.60 points

Market wide rollover was 84.00% whereas the rollover in Nifty futures was 65.70%.

Nifty April Range could be from 4900 to 5500

Nifty ROC2 calculation on daily closing basis

Long can be initiated if Nifty is able to hold above 5170 on daily basis with Stoploss 5170.

Trading as per Elliot Wave Theory

Go Short at / below 5267.3. Stoploss at 5272.56. Target 1 is 5227.53.
Go Short at / below 5252.11. Stoploss at 5272.56. Target 2 is 5220.83.

Intraday Calculation Based on Volatility

Buy at / above 5235.12 for following Target and stoploss
Target 1 : 5272.7    Target 2 : 5284.33    Target 3 : 5295.96    Target 4 : 5319.21    Target 5 : 5330.83         Stoploss : 5249.45

Intraday Calculation based on Gann Square of 9 Calculation

Buy at / above: 5274.39   Targets: 5289.91 - 5308.11 - 5326.33 - 5344.59
Sell at / below: 5256.25   Targets: 5240.75 - 5222.67 - 5204.61 - 5186.59

My Trading Style

Nifty's pivot point is 5247.
If Nifty is staying above 5266 then first target is 5295 and second target is 5312. After rise if Nifty unable to stay above 5295 then short can be initiated at 5290  with stop 5300.
If Nifty is staying below 5254 then first target is 5225 and second target is 5183. After fall, if Nifty stays above 5225 then long can be initiated at 5233 with stop 5223.

Best of luck.