Trading the Nifty on October 12th

Trading the Nifty on October 12^th

Today was news driven market. The Nifty was trading along the expected lines till afternoon. The European markets gave the boost to the Nifty and it rose to touch 5721 which was well above the opening of 5663.

In the coming trading session if the Nifty opens comfortably above the pivot of 5689 it can pass levels of 5731, 5756and 5776. If a downtrend emerges the Nifty could test levels of 5706,5681 and 5650

NIFTY	CLASSICAL	CAMERILLA	FIBONACCI
Resistance 4		5754
Resistance 3	5825	5731	5773
Resistance 2	5773	5723	5741
Resistance 1	5740	5716	5721
Pivot Point	5689	5689	5689
Support 1	5656	5700	5657
Support 2	5605	5693	5637
Support 3	5572	5685	5605
Support4		5662

^{The above pivot is meant  for daytrading valid for October 12th}

^{Happy Trading !!} 

trading the Nifty on 11th of October

Trading the Nifty on October 11^th

The Nifty has entered a bearish zone. At the time of writing this post the Singapore Nifty was trading at 5678 about 18 points up from the previous closing. The entire Europe was in red in the last trading session. The DOW too has lost 128 points. Today the Asia Pacific zone was also in the red except for Hang Sen. Therefore these factors cannot help Nifty to easily recover the points it has lost. We cannot expect big performance today. Shorting opportunities may be found on individual stocks.

The Nifty could see levels of 5658, 5661and 5671 on the upper side. On the lower end levels of 5646, 5633 and 5621 are some possibilities.

The pivot levels have been posted below for the day of October 11^th

Happy Trading!!

NIFTY	CLASSICAL	CAMERILLA	FIBONACCI
Resistance 4		5674
Resistance 3	5716	5663	5701
Resistance 2	5701	5659	5686
Resistance 1	5677	5656	5677
Pivot Point	5662	5662	5662
Support 1	5637	5649	5647
Support 2	5622	5645	5638
Support 3	5598	5641	5622
Support4		5630