- Trading as per support and resistance levels may be quite useful for intraday trading in Index Futures.
- Resistance is termed as the level where the NSE Nifty/Bank Nifty generally gets some opposite force before it can go further up.
- A support is the level where a Nifty/Bank Nifty 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 is advisable to buy the Nifty/Bank Nifty 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 12th Nov’13
|Pivot Level = 6145
Bank Nifty Future Levels for 12th Nov’13
|Pivot Level = 10874
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