Wednesday, 17 October 2012

Trading the nifty on 18th October


Trading the Nifty on 18th October 2012

The Nifty chart looks very bad without a direction. From here onwards the upper side is capped to the level of 5697 and 5710 on the lower side 5621 and 5596 are levels that could be tested. Although the many Nifty stocks are on the sideways move the nifty is not showing much strength at this point of time.

The below posted pivots are valid for October 18th.

NIFTY
Classical
Camerilla
Fibonacci
Resistance 4

5688

Resistance 3
5736
5674
5710
Resistance 2
5710
5669
5691
Resistance 1
5685
5665
5679
Pivot Point
5660
5660
5660
Support 1
5635
5656
5640
Support 2
5609
5651
5628
Support 3
5584
5646
5609
Support4

5633


Happy trading

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