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Nifty Weekly support and resistance levels

Nifty Future Weekly 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 = 5439
Support1 = 5385 Resistance1 = 5505
Support2 = 5318 Resistance2 = 5558
Support3 = 5265 Resistance3 = 5625

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)

These levels are updated by NiftyLiveCharts.com Team

Posted by On 16/08/2010 Filed in: Weekly Support and resistance levels Tags: , , , , , , ,
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One Response to "Nifty Weekly support and resistance levels"

  1. yash gupta says:

    sir,
    nifty weekly levels are not mentioned in your website or when is it published so that we can come to know about it as i ve hardly traded in the nifty but then too it is really difficult in trading nifty how does weekly levels work pls give me an example or this weeks nifty levels so i can come to know.

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