NIFTY (4145)

After horrible global cues, Nifty had to fall and it did so at opening bell straight to 4126 and the started its recovery and covered good ground upto 4195 (Monthly Pivot) and then in the final hours it was a vertical fall taking it back to where it started its recovery and closed at 4145. Had said, volatility has increased and hence be watchful with your trades as it can get choppy and surely it did get choppy.

Pivot Point trading levels for 11th JUN is as under.
S2 S1 PIVOT R1 R2
4086 4116 4155 4185 4224

Pivot Point trading levels for the Week 11th-15th JUN is as under.
S2 S1 PIVOT R1 R2
3974 4060 4211 4297 4448

Pivot Point trading levels for the Month of June is as under.
S2 S1 PIVOT R1 R2
3869 4082 4195 4408 4521

10-DMA 4247
20-DMA 4228
30-DMA 4186

Resistances on the way up are at 4224, 4294, 4364, 4433, 4503. Support is at 4138. These are not for any particular day and are valid for MEDIUM TERM.

Today, for any kind of bullishness to resume Nifty needs to close above 4186 and double confirmation would be got once it closes above 4228.

Just on having a look at the global cues, I say, if one is lucky enough to get Nifty futures at friday`s closing price or near abouts, nothing like it, just go ahead and buy.