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Nifty Levels

Monday, July 2, 2007

NIFTY (4318)

Friday was a good day for Nifty as it closed in the positive for the 4th straight month and also made an all time closing high surpassing the earlier high of 4297 made on 1st June. It took one month to surpass it. Sensex was just shy by 2 points of making all time closing high of 14652 made on 8th Feb.

Pivot Point trading levels for 2nd JUL is as under.
S2 S1 PIVOT R1 R2
4267 4292 4307 4332 4347

Pivot Point trading levels for the Week 2nd-6th JUL is as under.
S2 S1 PIVOT R1 R2
4207 4262 4292 4347 4377

Pivot Point trading levels for the Month of JUL is as under.
S1 PIVOT R1
4158 4260 4421

10-DMA 4254
20-DMA 4218
30-DMA 4233

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.

Finally Nifty brokeout of the narrow range getting past 4294. Immediate support is at 4292 and hence weakness will be seen below it. Short term players keep stoploss of 4292 (Weekly Pivot) and positional players keep stoploss of 4260 (Monthly Pivot) and ride.
Main attention next week might shift to Sensex as it is just 74 points from making an all time high of 14724 made 5 months back on 9th Feb. Will it this time ???

Posted by FR at 6:39 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.