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Nifty Levels

Thursday, July 26, 2007

NIFTY (4589)

Wednesday was a down - up - down - up day, but we stayed below the previous days close right through the day.

Pivot Point trading levels for 26th JUL is as under.
S2 S1 PIVOT R1 R2
4524 4556 4589 4621 4654

Pivot Point trading levels for the Week 23rd-27th JUL is as under.
S2 S1 PIVOT R1 R2
4392 4479 4540 4627 4688

Pivot Point trading levels for the Month of JUL is as under.
S1 PIVOT R1 R2 R3
4158 4260 4421 4523 4684

10-DMA 4542
20-DMA 4450
30-DMA 4376

Resistances on the way up are at 4671. Support is at 4590, 4503, 4433, 4364. These are not for any particular day and are valid for MEDIUM TERM.

Currently, since 13th June market is moving up and giving intraday corrections of just 60-80 points at regular intervals and moving upwards. So far this pattern has not been broken.

Still No weakness is seen as yet, and for tomorrow first sign of weakness will only be, if we close below 4560.

This being F&O expiry week and as said earlier, possibility of a proper correction looks likely after f&o expiry.

Posted by FR at 9:07 AM  

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