Trading as per support and resistance levels may be quite useful for daily (Intra-day) trading in NSE Index futures. Resistance is termed as the level where the stock/index future generally gets some opposite force before it can go further up. A support is the level where a stock/index future 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 stock/index future at support levels and sell at the resistance levels.
In daily/Intraday trading, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.
Nifty Future Levels for 28th Feb’15
|Pivot Level = 8847
Bank Nifty Future Levels for 28th Feb’15
|Pivot Level = 19077