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Nifty Levels

Friday, June 29, 2007

NIFTY (4282)

On last day of F&O expiry, volatality was seen and the June series ended nearly where it started a month ago. After 200+ points gain in both April and May, in this month Nifty is still 14 points in the negative for this month with just one day to go. Lets see if we close positive for the month. Nifty has so far closed in positive for last 3 months now.

Pivot Point trading levels for 29th JUN is as under.
S2 S1 PIVOT R1 R2
4243 4262 4277 4296 4311

10-DMA 4239
20-DMA 4217
30-DMA 4230

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.

Since last 3 days it is moving between 4250 and 4294. Nifty needs to breakout and trade above 4294 for further momentum to pick up. Positional players, keep holding longs with a stoploss of 4230 on closing basis. Support for Nifty is at 4278, 4264, 4250.

Posted by FR at 7:32 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.