Trading the Nifty on 17th
October 2012
The Nifty has put up a weak show today. The chart too does not look good.
The Asia pacific zone was encouraging. So were the European openings. But our
market did go down poorly. The afternoon session pulled the Nifty down.
The levels form here also will have to be scaled down. From here levels
of 5714, and 5727 are the levels to watch for. If the Nifty clears this levels
it will indicate the renewal of another trend. Otherwise levels of 5623 and
5598 are the levels Nifty could test.
Pivot levels for day traders are
listed below.
|
NIFTY
|
Classical
|
Camarilla
|
Fibonacci
|
|
Resistance
4
|
5691
|
||
|
Resistance
3
|
5775
|
5670
|
5744
|
|
Resistance
2
|
5744
|
5662
|
5714
|
|
Resistance
1
|
5696
|
5655
|
5696
|
|
Pivot
Point
|
5666
|
5666
|
5666
|
|
Support
1
|
5618
|
5641
|
5636
|
|
Support
2
|
5587
|
5634
|
5617
|
|
Support
3
|
5539
|
5626
|
5587
|
|
Support4
|
5605
|
Happy trading
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