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Nifty Levels

Monday, May 21, 2007

NIFTY (4215)

Friday Nifty was subdued and could not hit the all time high of 4245 which was just 25 points from the closing of 4220. It stayed in a range right through.

Pivot point trading levels for 21st May is as under.
S2 S1 PIVOT R1 R2
4156 4185 4207 4236 4258

Pivot point trading levels for the Week is as under.
S2 S1 PIVOT R1 R2
4013 4113 4173 4273 4333

20-DMA 4118
30-DMA 4039

Resistances on the way up are at 4224, 4294, 4364. Support is at 4138, 4052. These are not for any particular day and are valid for medium term.

On Monday, lets see if we can take a shot at 4245. There is a good support at 4173, As long as we stay above 4173 no problems. Weakness, if any will be seen only If we break below 4173. On Friday, Europe and USA were strong. Hence if Asia is stable on monday, we should have a good opening. Currently, we are just below our all time high and hence Nifty has gone sideways.

Posted by FR at 7:47 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.