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Nifty Levels
Tuesday, May 22, 2007
NIFTY (4261)
Yesterday Nifty brokeout and also closed above its all time high of 4245. This is a very bullish sign.
Pivot point trading levels for 22nd May is as under.
S2 S1 PIVOT R1 R2
4198 4230 4249 4281 4300
Pivot point trading levels for the Week is as under.
S2 S1 PIVOT R1 R2
4013 4113 4173 4273 4333
10-DMA 4142
20-DMA 4131
30-DMA 4056
Resistances on the way up are at 4294, 4364. Support is at 4224, 4138. These are not for any particular day and are valid for medium term.
Nifty has now gained 288 points or 7.2% from the lows without a correction. From now on all dips of 100 points have to be bought into. We should get a dip sometime this week and it needs to be bought into.
This is the first time that since 2007 Nifty has been leading the way and not Sensex.
All this while in 2005 and 2006 it is always Sensex which gave the first breakout and then Nifty followed.
Since 2007, Sensex has been lagging behind Nifty.
Pivot point trading levels for the Week is as under.
S2 S1 PIVOT R1 R2
4013 4113 4173 4273 4333
10-DMA 4142
20-DMA 4131
30-DMA 4056
Resistances on the way up are at 4294, 4364. Support is at 4224, 4138. These are not for any particular day and are valid for medium term.
Nifty has now gained 288 points or 7.2% from the lows without a correction. From now on all dips of 100 points have to be bought into. We should get a dip sometime this week and it needs to be bought into.
This is the first time that since 2007 Nifty has been leading the way and not Sensex.
All this while in 2005 and 2006 it is always Sensex which gave the first breakout and then Nifty followed.
Since 2007, Sensex has been lagging behind Nifty.
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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.
