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Nifty Levels

Tuesday, August 7, 2007

NIFTY (4340)

On monday as expected it was a vertical gap down opening with a fall of nearly 135 points from friday\'s close which was just shy off 30 odd points from my target of 4230 and since then through the day it was stable to up with a sharp surge of 30-35 points in the last 30 minutes of trade gettig not so bad cues from europe..

Pivot Point trading levels for 7th AUG is as under.
S2 S1 PIVOT R1 R2
4200 4270 4337 4407 4474

Pivot Point trading levels for the Week 6th - 10th AUG is as under.
S2 S1 PIVOT R1 R2
4214 4308 4421 4515 4628

Pivot Point trading levels for the Month of AUG is as under.
S2 S1 PIVOT R1 R2
4150 4339 4494 4683 4838

20-DMA 4484
30-DMA 4434
50-DMA 4348
100-DMA 4163

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

Now yesterday, Nifty closed at its monthly S1 and also just below its 50-DMA which shows weakness. Only a close above 4434 will show first signs of strength coming back.

Support for the Nifty is at 4310, 4230, 4166, 4102, and 3973.
Resistance is at 4301, 4329, 4357, 4385 and 4413

Posted by FR at 9:34 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.