Trading Nifty on 25-6-2012

9.27 AM:
To me 5180+ was the best shorting opprtunity with SL at 5190:
Best risk reward.

10.00AM
Back from the brink?
Conservatives should short only on orange-channel break

10.30 AM
5189.5 breached.
Would be on sidelines till EOD to confirm the emerging pattern.

EOD

As I had mentioned in my previous posts,price is moving in a channel for last two weeks:

Whether a combo of corrective forms or anything else would become clear later

There are times when Ew labels are not very clear and during these times channels in Hour and 5 min charts become good friends of traders alongwith MACD e.g today following channels in 5 min chart were very useful:

One must keep working with charts and try to develop trade set-ups with the help of channels as shown above.

Raghu