Trading the Nifty on 31st
October
Today’s Nifty patterns suggest there is
some more downside left. Since the Nifty has closed below 5600 levels it is
really in a very weak zone. It could get dragged below this level to test 5576.
On the upper side it has very limited level of 5625 and 5638. A more clear
picture could evolve if another days trading data can be obtained. The overall
trend of Nifty is weak.
|
NIFTY
|
Classical
|
Camerilla
|
Fibonacci
|
DeMark
|
|
Resistance 4
|
5653
|
|||
|
Resistance 3
|
5762
|
5625
|
5726
|
|
|
Resistance 2
|
5726
|
5616
|
5688
|
5726
|
|
Resistance 1
|
5662
|
5607
|
5664
|
5662
|
|
Pivot Point
|
5626
|
5626
|
5626
|
5626
|
|
Support 1
|
5562
|
5589
|
5588
|
5562
|
|
Support 2
|
5526
|
5580
|
5564
|
5526
|
|
Support 3
|
5462
|
5570
|
5526
|
|
|
Support4
|
5543
|
The pivot levels for October 31st
is posted above.
Happy trading
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