Trading the Nifty on 18th
October 2012
The Nifty chart looks very bad without a
direction. From here onwards the upper side is capped to the level of 5697 and
5710 on the lower side 5621 and 5596 are levels that could be tested. Although the
many Nifty stocks are on the sideways move the nifty is not showing much strength
at this point of time.
The below posted pivots are valid for October 18th.
|
NIFTY
|
Classical
|
Camerilla
|
Fibonacci
|
|
Resistance 4
|
5688
|
||
|
Resistance 3
|
5736
|
5674
|
5710
|
|
Resistance 2
|
5710
|
5669
|
5691
|
|
Resistance 1
|
5685
|
5665
|
5679
|
|
Pivot Point
|
5660
|
5660
|
5660
|
|
Support 1
|
5635
|
5656
|
5640
|
|
Support 2
|
5609
|
5651
|
5628
|
|
Support 3
|
5584
|
5646
|
5609
|
|
Support4
|
5633
|
Happy trading
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