TRADING THE NIFTY ON 5th NOVEMBER
In the last trading session the Nifty
reacted to the Dow’s upward movement on the previous day. In the last trading session the DOW has not
done well. From the charts we see a bearish engulfing pattern which clearly
indicates the DOW will not hold its ground.
For the Indian market there is no big trigger to boost the present
reversal.
From here the Nifty if it maintains the
momentum, levels of 5723 and 5748 are some levels to be witnessed. If the Nifty
loses its ground it will retest 5672 and 5647.
|
NIFTY
|
Classical
|
Camarilla
|
Fibonacci
|
DeMark
|
|
Resistance 4
|
5714
|
|||
|
Resistance 3
|
5741
|
5706
|
5726
|
|
|
Resistance 2
|
5726
|
5703
|
5715
|
5726
|
|
Resistance 1
|
5712
|
5700
|
5708
|
5712
|
|
Pivot Point
|
5697
|
5697
|
5697
|
5697
|
|
Support 1
|
5683
|
5695
|
5686
|
5683
|
|
Support 2
|
5668
|
5692
|
5679
|
5668
|
|
Support 3
|
5654
|
5690
|
5668
|
|
|
Support4
|
5682
|
The above pivot table is for daytraders valid for 5th November
Happy trading
