Friday, 16 November 2012

Trading the Nifty on 16th November


I have to repeat what I have wrote yesterday. The Nifty is behaving as expected. The Nifty is in Bearish zone. From here too there is more downside as the major other markets are also in the red.  From a gap down like opening we cannot expect a good show from Nifty. 

From this point onwards, 5606 is a good support level. If this is broken levels of 5587 and 5568 can be tested. On the upper side 5625 is an important level to observe.

NIFTY
Classical
Camarilla
Fibonacci
DeMark
Resistance 4

5657


Resistance 3
5702
5644
5677

Resistance 2
5677
5640
5658
5677
Resistance 1
5654
5635
5647
5654
Pivot Point
5629
5629
5629
5629
Support 1
5606
5627
5610
5606
Support 2
5581
5622
5599
5581
Support 3
5558
5618
5581

Support4

5605



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