>>>Fibonacci levels For Indices
Trading the Bank Nifty and CNXIT can reap huge profits using the Fibonacci system in a similar way that I advocate For NIfty.
However, one point must be kept in mind that though these charts will give you the correct entry and exit points, the volatility in the Futures of these two indices is much more than that in the Nifty and can move as much in a range of as much as 500 - 700 points on a day. They can bring in good profits and that too with lightning speed but are toys for the experienced hand and not the average trader.
I have traded these counters and have benefited a lot from them. So trade with caution and start putting your money on the line only after you have "paper traded" for atleast a week or two if not more.
Wishing you all the very best.
BANK NIFTY (CASH)
5 Day Chart, 1 min Bars, MACD (26,12,9)
CNX IT (CASH)
5 Day Chart, 1 min Bars, MACD (26,12,9)
However, one point must be kept in mind that though these charts will give you the correct entry and exit points, the volatility in the Futures of these two indices is much more than that in the Nifty and can move as much in a range of as much as 500 - 700 points on a day. They can bring in good profits and that too with lightning speed but are toys for the experienced hand and not the average trader.
I have traded these counters and have benefited a lot from them. So trade with caution and start putting your money on the line only after you have "paper traded" for atleast a week or two if not more.
Wishing you all the very best.
BANK NIFTY (CASH)
5 Day Chart, 1 min Bars, MACD (26,12,9)
CNX IT (CASH)
5 Day Chart, 1 min Bars, MACD (26,12,9)
posted by True Data India | 8:55 AM
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