Trading the Nifty on 25th
October 2012
As I wrote yesterday, the nifty had done
another day with sideways movement of price. The world indices are not too bad
performing. But our Nifty has not put up a great show. The only plus point is
it has closed above 5700. Let us see one more trading session of tomorrow can
give us a clue on the direction of the Nifty.
The Nifty from this point can touch
levels of 5732 and 5745. On the lower side 5694 and 5682 are the levels it
could climb down.
I have given the pivot levels of nifty
in the chart below valid for October 26th.
|
NIFTY
|
Classical
|
Camarilla
|
Fibonacci
|
|
Resistance 4
|
5723
|
||
|
Resistance 3
|
5754
|
5714
|
5736
|
|
Resistance 2
|
5736
|
5711
|
5724
|
|
Resistance 1
|
5721
|
5708
|
5716
|
|
Pivot Point
|
5703
|
5703
|
5703
|
|
Support 1
|
5688
|
5702
|
5691
|
|
Support 2
|
5670
|
5699
|
5683
|
|
Support 3
|
5655
|
5696
|
5670
|
|
Support 4
|
5687
|
Happy trading
