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Nifty Levels
Wednesday, May 23, 2007
NIFTY (4246)
Today Nifty was sideways through the day but cracked in the final hour. Nothing but a routine / regular correction.
Pivot point trading levels for 24th May is as under.
S2 S1 PIVOT R1 R2
4196 4221 4256 4281 4316
Pivot point trading levels for the Week is as under.
S2 S1 PIVOT R1 R2
4013 4113 4173 4273 4333
10-DMA 4179
20-DMA 4149
30-DMA 4087
Tomorrow these DMAs would move up by minimum 10-15 points.
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 310 points or 7.8% 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.
Cautious stoploss for longs can be kept at 4173 where good support will be seen.
Now for tomorrow.... ONLY below 4245 weakness will be seen and support are at 4218, 4195 and 4173.
At any of these supports Nifty can bounce back. I do not see the Nifty going below 4173 in this correction.
Today Nifty was sideways through the day but cracked in the final hour. Nothing but a routine / regular correction.
Pivot point trading levels for 24th May is as under.
S2 S1 PIVOT R1 R2
4196 4221 4256 4281 4316
Pivot point trading levels for the Week is as under.
S2 S1 PIVOT R1 R2
4013 4113 4173 4273 4333
10-DMA 4179
20-DMA 4149
30-DMA 4087
Tomorrow these DMAs would move up by minimum 10-15 points.
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 310 points or 7.8% 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.
Cautious stoploss for longs can be kept at 4173 where good support will be seen.
Now for tomorrow.... ONLY below 4245 weakness will be seen and support are at 4218, 4195 and 4173.
At any of these supports Nifty can bounce back. I do not see the Nifty going below 4173 in this correction.
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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.
