Trading the Nifty on 15th
October 2012
The Nifty is in a bearish zone. Only a Neutral status can be assigned to
nifty. We need to watch for more confirmation signal to comment on Nifty. Many
indicators are pointing at a bearish trend. The European zone is not showing
any trend. Therefore the Nifty has to either consolidate at this point or head
for a breakdown.
The Nifty if positively driven could see the levels of 5689,5714 and
5740. On the downside it could test 5664, 5639 and 5614. I have posted the
Pivot levels as day trading guide for day traders, below.
|
NIFTY
|
CLASSICAL
|
CAMERILLA
|
FIBONACCI
|
|
Resistance
4
|
5712
|
||
|
Resistance
3
|
5780
|
5694
|
5752
|
|
Resistance
2
|
5752
|
5688
|
5727
|
|
Resistance
1
|
5714
|
5682
|
5712
|
|
Pivot
Point
|
5687
|
5687
|
5687
|
|
Support
1
|
5649
|
5670
|
5662
|
|
Support
2
|
5621
|
5664
|
5646
|
|
Support
3
|
5583
|
5658
|
5621
|
|
Support4
|
5640
|
Happy trading
No comments:
Post a Comment