Charts and Trading Plan for 11/03/14

The Nifty showed signs of balancing today and a possible end to the large drive we have seen from last week.   That move which started last tuesday has already done 366 points in the Nifty and 1586 points in the Banknifty in 5 sessions.     The BNF had a trend day with a open at one end and a close at the other.   Our view was that the longs would not have any trouble over 11750 and that buys could be initiated again over PDH for 12228. The BNF hit 12199 in today’s trade.   For tomorrow…

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