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Indian Stock Market


NIFTY (4134)

Tuesday, May 15, 2007

Yesterday Nifty opened with a gap and held the gap right through the day closing 57 points up. Yesterday it wasn't that volatile and hence the Nifty turnover reduced to half at 8000 crores as compared to 15000 crores on Friday. Turnover is directly proportionate to volatility.

Pivot point trading levels for 15th May is as under.
S2 S1 PIVOT R1 R2
4040 4087 4119 4166 4198

Pivot point trading levels for the Week is as under.
S2 S1 PIVOT R1 R2
3895 3986 4072 4163 4249

20-DMA 4078
30-DMA 3979
100-DMA 3951

Resistances on the way up are at 4138, 4224. Support is at 4052, 3966. These are not for any particular day and are valid for medium term.

Nifty is expected to face resistance at 4163-4166 being weekly and daily R1. Support is at 4120 and at 4072.

Posted by FR at 6:55 AM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.