Tuesday, July 1, 2008

Nifty Future for July 1 - Viral Joshi

Nifty future has broken the 4000 level, and trades at a discount of 80.55 points, which shows huge shorting on index. While the Nifty spot is at 4040.55, and trying to maintain 4000 support level, the political situation is making bears very strong days.

Pivot is 4000 and support is 3900.

S1 3950; S2 3920; S3 3900; and R1 3980; R2 4000; R3 4080.

Buy above 3965 and if it breaks 3980 then 4000-4080.
Short below 3960 and if it breaks 3950 then 3920-3900.

Daily moving averages:

5DMA 4187;
20DMA 4450;
50DMA 4799;
200DMA 5229.

Posted by VIRAL JOSHI at 9:27 AM

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1 Comment:

Stockchart said...

we will see a bottom,how strong?? time will tell,at around 12450-12750 range which is also a target of the distribution happened in the mnths of march to may..and a 50% fibonacci support too,,and in my opnion we have seen enough of panic selling today ...bhavesh naik,9925673239..bhoom2tika@yahoo.co.in

July 1, 2008 at 7:20 PM  

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