Trading the Nifty on 15th October

Trading the Nifty on 15^th October 2012

 

The Nifty is in a bearish zone. Only a Neutral status can be assigned to nifty. We need to watch for more confirmation signal to comment on Nifty. Many indicators are pointing at a bearish trend. The European zone is not showing any trend. Therefore the Nifty has to either consolidate at this point or head for a breakdown.

The Nifty if positively driven could see the levels of 5689,5714 and 5740. On the downside it could test 5664, 5639 and 5614. I have posted the Pivot levels as day trading guide for day traders, below.

NIFTY	CLASSICAL	CAMERILLA	FIBONACCI
Resistance 4		5712
Resistance 3	5780	5694	5752
Resistance 2	5752	5688	5727
Resistance 1	5714	5682	5712
Pivot Point	5687	5687	5687
Support 1	5649	5670	5662
Support 2	5621	5664	5646
Support 3	5583	5658	5621
Support4		5640

Happy trading

Trading the Nifty on October 12th

Trading the Nifty on October 12^th

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 !!}