The Nifty outlook for 1st October,2012
The Nifty on the chart
does not look very impressive. Its new high could not clear the previous
candles height. A Harami type pattern indicates the nifty will have to make
hard efforts to break the resistance it is now facing. Other factors like the Asia pacific performance could play a part in today's trading.
The important level to
watch for is 5742. If this level is taken out the next level will be 5755 and
5762.
On the lower side if the
nifty opens below the pivot of 5707, then it would become weak and levels of
5670 and 5657 could also be reached.
Pivot levels for trading the Nifty on October 1st
Mid R3 5771 R3 5783
Mid R2 5745 R2 5759
Mid R1 5719 R1 5731
Pivot 5707
Mid S1 5693 S1 5679
MID S2 5668 S2 5656
Mid S3 5642 S3 5628
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