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Nifty Levels

Friday, July 13, 2007

NIFTY (4446)

Nifty was resilient in going down after the inital blip on wednesday, even though other global markets corrected and today with strong global cues, it continued with its upmove making another new lifetime high.

Pivot Point trading levels for 13th JUL is as under.
S2 S1 PIVOT R1 R2
4363 4405 4428 4470 4493

Pivot Point trading levels for the Month of JUL is as under.
S1 PIVOT R1 R2
4158 4260 4421 4523

10-DMA 4375
20-DMA 4307
30-DMA 4270

Resistances on the way up are at 4503/4509. Support is at 4433, 4364.
These are not for any particular day and are valid for MEDIUM TERM.

There is absolutely no sign of any weakness and now slowly it will inch up to my next medium term target of 4503/4509. Now till this target is acheived, I do not see much pullback and I expect this target to be reached in a day or two.

Posted by FR at 7:54 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.