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Nifty Levels

Thursday, June 21, 2007

NIFTY (4249)

First time since last 3 weeks, Nifty has had 2 consecutive positive closing. Today it crossed the second hurdle giving a double confirmation of the strength. Now Nifty is once again in bullish zone. CNX Midcap and Nifty Junior have already broken out and have made new highs. Nifty and CNX-100 have yet to follow.

Pivot Point trading levels for 21st JUN is as under.
S2 S1 PIVOT R1 R2 R3
4197 4223 4240 4266 4283 4309

Pivot Point trading levels for the Week 18th-22nd JUN is as under.
S2 S1 PIVOT R1 R2 R3
4051 4111 4160 4220 4269 4329

Pivot Point trading levels for the Month of June is as under.
S1 PIVOT R1
4082 4195 4408

10-DMA 4169
20-DMA 4214
30-DMA 4202

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.

Those who had taken position near 4136 can continue with their positions keeping a stoploss of 4214 or preferably 4202 on a closing basis. Those who want to enter fresh, can do so on dips nearer to 4214 keeping the above stoploss. Resistances are at 4263, 4301, 4363.

Posted by FR at 8:24 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.