A good opening by Nifty at 5426 was
good to see. It was well on the target when it touched 5448 the second
resistant level. But after wards it came down to 5393- the support level.
Finally it has managed to close at 5415. In the Asia pacific region too except
for Nikkei and Hang Seng the rest have not made significant upward moves. The
most important level nifty should have maintained is 5433 the first resistance
level. What we need to observe is the sustainability of Nifty’s stand. If Nifty
can manage to hold on to these levels even at these level of 5400 + it is still
good. To say something more about Nifty we need to watch its moves for the next
2 trading sessions.
I have posted below the pivot levels
for 24th August. 2012
Mid R3
|
5487
|
R3
|
5499
|
|
Mid R2
|
5459
|
R2
|
5474
|
|
Mid R1
|
5432
|
R1
|
5445
|
|
Pivot
|
5419
|
|||
Mid S1
|
5405
|
S1
|
5390
|
|
MID S2
|
5377
|
S2
|
5365
|
|
Mid S3
|
5350
|
S3
|
5335
|
|
|
The below written pivot levels are based on
Fibonacci method |
||||
Pivot
|
5419
|
|||
R3
|
5474
|
S1
|
5398
|
|
R2
|
5453
|
S2
|
5385
|
|
R1
|
5440
|
S3
|
5365
|
|
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