Pivot levels for4th September 2012

Pivot levels for 4^th  September 2012

The Nifty had opened above the pivot, to meet the resistance level of R1 5295. But came down to touch the midS1 (5249) 5243. It had gained 10 points to close at 5253 all major indexes are not in favor of Nifty. As I said in my last post, 5238 is an important level to watch for. If these levels are broken a weak Nifty could even see levels of 5227.

Mid R3      5327     R3           5338

Mid R2      5301     R2           5317

Mid R1      5275     R1           5285

                                             

Pivot          5264                   

                                             

Mid S1      5248     S1           5233

Mid S2      5222     S2           5212

Mid S3      5196     S3           5180

For the traders who follow Fibonacci numbers I give below the chart based on Fibonacci numbers

Pivot        5264                                                        

                                                                                

R3           5317       S1           5244                          

R2           5297       S2           5232                          

R1           5284       S3           5212 

Happy trading!!