Thursday 11 October 2012

Trading the Nifty on October 12th


Trading the Nifty on October 12th

Today was news driven market. The Nifty was trading along the expected lines till afternoon. The European markets gave the boost to the Nifty and it rose to touch 5721 which was well above the opening of 5663.

In the coming trading session if the Nifty opens comfortably above the pivot of 5689 it can pass levels of 5731, 5756and 5776. If a downtrend emerges the Nifty could test levels of 5706,5681 and 5650

NIFTY
CLASSICAL
CAMERILLA
FIBONACCI
Resistance 4

5754

Resistance 3
5825
5731
5773
Resistance 2
5773
5723
5741
Resistance 1
5740
5716
5721
Pivot Point
5689
5689
5689
Support 1
5656
5700
5657
Support 2
5605
5693
5637
Support 3
5572
5685
5605
Support4

5662


The above pivot is meant  for daytrading valid for October 12th

Happy Trading !! 

trading the Nifty on 11th of October


Trading the Nifty on October 11th
The Nifty has entered a bearish zone. At the time of writing this post the Singapore Nifty was trading at 5678 about 18 points up from the previous closing. The entire Europe was in red in the last trading session. The DOW too has lost 128 points. Today the Asia Pacific zone was also in the red except for Hang Sen. Therefore these factors cannot help Nifty to easily recover the points it has lost. We cannot expect big performance today. Shorting opportunities may be found on individual stocks.

The Nifty could see levels of 5658, 5661and 5671 on the upper side. On the lower end levels of 5646, 5633 and 5621 are some possibilities.

The pivot levels have been posted below for the day of October 11th

Happy Trading!!
NIFTY
CLASSICAL
CAMERILLA
FIBONACCI
Resistance 4

5674

Resistance 3
5716
5663
5701
Resistance 2
5701
5659
5686
Resistance 1
5677
5656
5677
Pivot Point
5662
5662
5662
Support 1
5637
5649
5647
Support 2
5622
5645
5638
Support 3
5598
5641
5622
Support4

5630