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Sunday, April 17, 2011

Nifty support and resistance levels for 18th april 201

Nifty support and resistance levels for 18th april 2011 ; Nifty Future Daily trading levels Trading as per the support and resistance levels may be quite useful for intraday trading in stocks and index. Resistance is termed as the level where the stock generally gets some opposite force before it can go further up. A support is the level where a stock get buying interest before it can fall further. Under the normal market conditions or in the absence of some extremely panic news the support and the resistance levels can act as good levels for initiating the buying / selling. In general it’s advisable to buy the stocks at support levels and sell at the resistance levels. In Intraday trading there are few support and resistance levels known as Support1 Support2, Resistance1 Resistance2 etc.

The support and the resistance levels for Nifty can be seen in the table below.
Nifty Levels in simple format can be seen as follow

Pivot Level = 5856
Support1 = 5789 Resistance1 = 5892
Support2 = 5753 Resistance2 = 5959
Support3 = 5686 Resistance3 = 5995

the basic formula’s used for calculating the support and resistance is:-
Pivot point (P) = (H + L + C) / 3
First resistance level (R1) = (2 * P) – L
First support level (S1) = (2 * P) – H
Second resistance level (R2) = P + (R1 – S1)
Second support level (S2) = P – (R1 – S1)
source www.niftylivecharts.com... For the latest updates PRESS CTR + D or visit Stock Market news Today

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