Friday 23 November 2012

Trading the nifty on 23rd November


Trading the nifty on 23rd   November

As I write this blog the Asia pacific has opened in the green except Shanghai. From yesterday’s chart we see a  Doji. Therefore the current trend needs confirmation signals. For the traders I would say to wait till nifty crosses 5643 with good volume and enter trade. Targets of 5659 and 5678 can be expected. If the Nifty loses ground, say if it opens below 5625 which is a good support level levels of 5609 and 5590 can be tested.

The below posted pivots are valid for 23rd November and happy trading!
NIFTY
Classical
Camarilla
Fibonacci
DeMark
Resistance 4

5647


Resistance 3
5680
5637
5662

Resistance 2
5662
5634
5648
5662
Resistance 1
5645
5631
5640
5645
Pivot Point
5626
5626
5626
5626
Support 1
5609
5625
5613
5609
Support 2
5591
5621
5605
5591
Support 3
5574
5618
5591

Support4

5608




Thursday 22 November 2012

Trading the nifty on 22nd November


Trading the nifty on 22nd   November

From the chart we can observe the Nifty is trying to make a comeback. It is very difficult to say anything about Nifty, unless we have a confirmation signal.

From here onwards we can expect the Nifty to 5640 and 5659. On the lower side 5590 is a good support level followed by 5571. Pivots for 22nd November is posted below.

NIFTY
Classical
Camarilla
Fibonacci
DeMark
Resistance 4

5647


Resistance 3
5695
5631
5658

Resistance 2
5658
5626
5635
5658
Resistance 1
5636
5620
5621
5636
Pivot Point
5599
5599
5599
5599
Support 1
5577
5609
5576
5577
Support 2
5540
5604
5562
5540
Support 3
5519
5599
5540

Support4

5582