Trade Plan 14th May :

NIFTY : Yesterday it was a bang and when I look back my charts i feel like banging my head.
                My daily charts posted for this week had a clue about Monday's fall. I could not see it and my attentive readers never pointed out.

Yes I didn't notice the Friday's trading volume bar. It is too small when I plotted 9 month chart that eyes did not catch it and holaa punishment was must.

Look at friday's trading volume. "Extreme minute volumes". Had i looked it I would have not taken the volume drop as "tiny miny volume drops"

Nevertheless , No regrets in Markets , what's next.

Did you notice the Monday's fall ?
Did you notice the Volume ?
Massive fall but volumes did not pick it up. Usually such "Valid Sell off's" should show a tall volume bar.

Remember 5950 . If not go through my couple of days back post.
Here is the link : http://www.nifty4living.blogspot.in/2013/05/trade-plan-7th-may.html#links


We have closed below 13 ema but volumes not picking up and my most crucial support zone 5950 is alive with my  BULLISH weekly outlook...

The trade plan stays very simple to me :

Long above 5990 (13 ema )
Go Short below 5950 for a quick target 22 ema (80-100 more points)
No Trade zone : 5950-5990

Remember my few words : If 5950 Does not offers a quick bounce and prices dance in the range 5940-5980 , tighten the seatbelts for red days. A Solid support should offer quick bounces.

If Prices go beyond 5990 , dont shy. Thy Long ,the weekly bullishness should pull it off.

SS

Correction to the Post : I never knew we had a trading session on Saturday. Lol. The extreme low volumes i talked about on friday is actually the truncated session on saturday that made all the difference.

Technically : The small session that looks meaningless is NOT meaningless on charts.