Saturday 6 October 2012

Trading the Nifty onn the October 8th


Trading the Nifty on October 8th

Predicting the Nifty with the data obtained on the last traded session is tricky, because of very low figure of 4888.2 the Nifty touched during  the early hours of trading. What I have attempted is substituting of previous day’s low to arrive at the trading levels of Nifty. Although this is not accurate, as I have always said that the Nifty is very hard to predict particularly in this type of market.

The Nifty has to stay above 5740 levels which it is holding out till date.   As long as it stays above this level it is good for the market. The levels to look for are 5757, 5770 and 5783 on the upper side the 5783 would be a fairly good resistance for Nifty. On the lower side the nifty can test 5732, 5719 and 5707.

The three types of Pivot levels are listed below to guide the day traders.
NIFTY PIVOT POINTS
CLASSICAL
CAMERILLA
FIBONACCI
Resistance 4

5782

Resistance 3
5856
5765
5835
Resistance 2
5835
5759
5811
Resistance 1
5791
5753
5796
Pivot Point
5771
5771
5771
Support 1
5727
5741
5747
Support 2
5707
5735
5731
Support 3
5663
5729
5707
Support4

5712



Happy trading!

Wednesday 3 October 2012

Trading the Nifty on October 4th


Trading the Nifty on October 4th

The Asia Pacific region gave a good opening which led us to think there will be  a good show by Nifty. The Nifty opened at 5727  and went upto 5743, again came below the opening of 5727 to touch a low of 5715. The only positive thing was the closing which now stands at 5731. In my previous posts I have written that the Nifty is doing well on monthly charts. I still maintain that stand. The Nifty has the potential to go further upwards.

If we notice the Bank Nifty’ movement we can observe that it is slightly weak and travelling sideways. This had been happening in the last four trading days. This is also one reason why the Nifty is slowing down.

From here onwards what we can expect? 5730 is the new pivot. If the Nifty opens above the pivot it can climb to the levels of 5740, 5753 and 5766. On the lower side 5712, 5700 and 5687 are some levels which could be seen.

The below posted pivots are a guide to intraday traders.


NIFTY
CLASSICAL PIVOT POINTS
CAMERILLA PIVOT POINTS
FIBONACCI PIVOT POINTS
Resistance 4

5746

Resistance 3
5772
5739
5758
Resistance 2
5758
5736
5747
Resistance 1
5744
5734
5741
Pivot Point
5730
5730
5730
Support 1
5717
5729
5720
Support 2
5703
5726
5713
Support 3
5690
5724
5703
Support4

5716



I will not be posting any MCX trading levels today as I am engaged in some other work. Sorry!

Happy trading!