Tuesday, November 1, 2011

Nifty Level Nov 1, 2011

World Market is very eager to fill the gap created last week, and Nifty is very likely to follow the suit. Nifty has already shaded few gains and shows reluctance to move into void created last week i.e area ~ 5220 to 5324. Closed marginally above 5324

In the light of World market, Nifty may open 50 point gap down which is equal to 1% of nifty current level hence opening should be around 5280. My Niftybarometer suggest stiff resistance at 5265, 5240 and 5205.

My Nifty level for Nov 1, 2011 is

(Should not open above 5300) 5280>5265>5240>5225>5205

I do not see Nifty below 100 DMA today i.e 5221. This will give very good support to save Nifty any further blow today

keep in mind it's time to fill the void.....

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