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Nifty Levels

Tuesday, July 31, 2007

NIFTY (4440)

Monday Nifty opened weak but soon picked up steam and steadily moved up hitting 4493 before the collapse began once again. I said yesterday, that I expect a pullback which at max. can go to 4506. In the last hour it was a steep fall back to square one.

Pivot Point trading levels for 31st JUL is as under.
S2 S1 PIVOT R1 R2
4357 4398 4446 4487 4535

Pivot Point trading levels for the Week 30th JUL - 3rd AUG is as under.
S2 S1 PIVOT R1 R2
4282 4363 4506 4587 4730

10-DMA 4546
20-DMA 4476
30-DMA 4410
50-DMA 4333

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

Nothing much to write. Once Nifty closes below 4410 you will see a further deepening of this correction. Those short, stoploss is a close above 4476

Supports during this correction is as follows.
4550, 4470, 4390, 4310, 4230, 4166, 4102.

Posted by FR at 8:09 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.