Re: Nifty Pivot Points for 30th Oct, 2006
hi savant,
i am new here.
have short position on nifty 3737 ...should i hold...
also could you pls explain what u mean by short 1/2...etc. do u mean go long or short....at these levels or are you indicating supports and resistances as per day.
brgds
gsa
Hi GSA,
Hang on to your short, through the day you may get an opportunity to be able to cover with a little profit or a little loss. Also if you can stand the Pain of the market going against your position you will see Nifty come to 3700 during the month...Choice is entirely yours.
Ok, now for the explanation of the Pivot Points, the figures you see are all based on Nifty Spot Prices and Future Position maybe taken at the corresponding Nifty Spot Prices, Long-1 is where if the Nifty Spot if reaches and doesnot break down you can take a long postion and Long-2 is where it may face Resistance & same goes for Short-1 Short-2, Keep adjusting your S/L as the market keeps moving so that even if it moves against your position you still end up with a little profit if the S/L triggers, ofcourse may not always trigger for Profit....
Any more Questions Feel free to ask.
Seeya
SavantGarde