NIFTY (4259)

As said in my last post, high risk players may short nifty with stoploss of 4263 and on monday right through the day Nifty could not get past it and touched a low of 4236 which was also the support. Still it is more or less flat at 4250 +/- 20. Even though global cues were bad still we managed well and remained strong comparatively and closed at near high of the day.

Pivot Point trading levels for 26th JUN is as under.
S2 S1 PIVOT R1 R2
4225 4242 4253 4270 4281

Pivot Point trading levels for the Week 25th-29th JUN is as under.
S2 S1 PIVOT R1 R2
4079 4166 4222 4309 4365

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

10-DMA 4200
20-DMA 4218
30-DMA 4219

Resistances on the way up are at 4294, 4364. Support is at 4224.
These are not for any particular day and are valid for MEDIUM TERM.

Now those who would have gone short would have already covered it on monday itself. For those who have held on to their longs with a stoploss of 4215 can continue holding keeping s stoploss of 4218 on closing basis. Supports are at 4237, 4211, 4190. Only a close below 4218 will make the nifty bearish in short term. If global cues are good in the morning, we will continue with our upmove, as today one could figure out that nifty was resilient in going down much, compared to other global indices.