Trading the Nifty on 29th
October 2012
The Nifty has entered a Bearish zone,
with all major indicators pointing at some more pains. The Asia Pacific was not
promising on the last trading session. Although the euro zone performed not too
bad, that did not help the Nifty the trigger it needed..from here onwards the
Nifty could sell levels of 5693 and 5718 if a positive opening is made. Or else
if the Nifty continues the current trend it could be dragged towards 5642 and
5618 which is closed to 5600 levels.
The pivot levels valid for October 29th.
|
NIFTY
|
Classical
|
Camarilla
|
Fibonacci
|
DeMark
|
|
Resistance 4
|
5723
|
|||
|
Resistance 3
|
5754
|
5714
|
5736
|
|
|
Resistance 2
|
5736
|
5711
|
5724
|
5736
|
|
Resistance 1
|
5721
|
5708
|
5716
|
5721
|
|
Pivot Point
|
5703
|
5703
|
5703
|
5703
|
|
Support 1
|
5688
|
5702
|
5691
|
5688
|
|
Support 2
|
5670
|
5699
|
5683
|
5670
|
|
Support 3
|
5655
|
5696
|
5670
|
|
|
Support4
|
5687
|
Happy trading
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