The 30-share benchmark index, BSE Sensex opened with a decline of 77.24 points or 0.49% at 15,781.25, while the broad based NSE Nifty started with a fall of 25.15 points or 0.53%, at 4,731.30.
Nifty December Future Support & Resistance (28/11/2011)
Support and Resistance
-. Trading as per support and resistance levels may be quite useful for intraday trading in equity market.
-. Resistance is termed as the level where the equity/index 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 absense of some extremely panic news the
support and the resistance levels can act as good levels for initiating the buying/selling.
-. In general, it is advisable to buy the stocks at support levels and sell at the resistance levels.
-. In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.
Nifty Future Levels for 28th November 2011 are as follows:
Pivot = 4724
Resistance 1 = 4759
Resistance 2 = 4813
Resistance 3 = 4849
Support 1 = 4669
Support 2 = 4634
Support 3 = 4579
Nifty Future Trend: Bearish (Long-Term & Short-Term)
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