Trading the Nifty on 6th September, 2012

Pivot levels for 6^th September, 2012

The Nifty has opened below the Pivot point 5243 in yesterday’s trade. This poor opening made the Nifty seeing levels of 5215 and settling at 5225.  The Nifty has become rather unpredictable. The bank nifty which is on the downtrend will not help nifty. From the pivots we see 5234 as an important level. If the opens around this number and continue to move down we could see levels of 5221 and 5208. At this level the nifty may find reversal. But if no support comes in here further downing of nifty may be witnessed.

On the upper side if the nifty manages to move up then levels of 5252, 5271, are some possibilities.

Pivot levels for                     

                                             

Mid R3       5286    R3           5295

Mid R2       5265    R2           5277

Mid R1       5243    R1           5252

                                             

Pivot           5234                  

                                             

Mid S1        5221    S1            5208

MID S2       5199    S2            5190

Mid S3        5177    S3            5164

The below written  pivot levels are based on Fibonacci numbers meant for Fibonacci traders

Pivot        5234                     

                                             

R3            5277       S1            5217

R2            5261       S2            5207

R1            5250       S3            5190

Happy trading!!