"Havala rate" concept was intraduced here by "Prashant".(There are few here).
It is the closing price(Spot Nifty) of previous settlement. Hence, the havala price for June settlement is the closing spot price of May series which is 5412.(26th May).
Buy above 5412; Sell below 5412.
1) On 27th May, the low was 5413.60 and market moved to 5605.
2) On 16th June, Market moved below 5412(On 17th June, it made a high of 5421-Hence use a filter) and fell to 5196 in 3 days.
3) On 24th June, Nifty moved above 5412 and today reached 5532.
Generally it gives 100+ points move.Combine it with other TA methods.
Sunday, June 26, 2011
Subscribe to:
Comments (Atom)