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Nifty Levels

Wednesday, July 11, 2007

NIFTY (4406)

Nifty opened slightly higher and found resistance at my medium term resistance of 4433 hitting 4434. I said yesterday, Nifty has already hit its near term target and some pull back was imminent and it did pull back slightly but not enough.

Pivot Point trading levels for 11th JUL is as under.
S2 S1 PIVOT R1 R2
4370 4388 4411 4429 4452

Pivot Point trading levels for the Week 9th-13th JUL is as under.
S2 S1 PIVOT R1 R2
4260 4322 4367 4429 4474

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

10-DMA 4346
20-DMA 4279
30-DMA 4260

Resistances on the way up are at 4433, 4503/4509. Support is at 4364, 4294.
These are not for any particular day and are valid for MEDIUM TERM.

Chart support is at 4346 and then at 4295. Only a close below 4346 would be bearish in short term and only a move past 4434 would be bullish for Nifty. Wednesday is Infosys results and hence nifty movement would depend slightly on its results as it has 5th heaviest weightage in the nifty and its results would affect other IT heavies as well. Supports are at 4404, 4380, 4355.

Posted by FR at 8:40 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.