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NIFTY (4171) Technical Level for 17 May

Thursday, May 17, 2007

Yesterday was quite a dull day but after 1.30 pm it was just one way and that's up and up and finally closed at days high. Today also Nifty did not go below its 10-DMA and once again found support there. Below 4218 high we made on 26th April, we made a second lower high of 4181 on 4th May. Today we touched that high of 4181.

Pivot point trading levels for 17th May is as under.
S2 S1 PIVOT R1 R2
4087 4129 4155 4197 4223

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

10-DMA 4110
20-DMA 4096

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

On thursday above 4181, Nifty would be heading towards 4218/4224 and then finally for 4245 our all time high. Whether it happens in this week or not is to be seen.

Posted by FR at 8:37 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.