S&P CNX Bank Nifty Spot Trading Levels for 02-09-2014
S&P CNX Bank Nifty Spot Trading Levels based on various technical analysis tools.
The Daily and Weekly Reversal level is computed on the basis of a simple moving average and then fine tuned with the addition of current days average move to lessen the whipsaws in the levels. It can give returns if traded mechanically over a period of time but request to do some paper trading as its just for education/information purpose only and not a recommendation to trade.
The pivot levels above are simple pivot levels.
The Gann levels are computed as per W D Gann’s calculations of Supports and resistance for the next day based on close price of current day.
The Fibonacci levels are the fibonacci retracement levels of the nearest swing high and low.
Based on the colour of the EMA and MA boxes we can estimate the trend. More green boxes are bullish and more orange boxes are bearish. If half of them are green and half are orange then the trend is either sideways or about to turn bearish from bullish or bullish from bearish.
Disclaimer :
All the levels are for information/educational purpose only. Please do paper trading for few days on the daily & weekly reversal levels & then enter into real trade. Those Levels are derived using a technical analysis formula & need not be accurate/precise at all times. For paper trading one may note to enter a short term Buy or Sell trade when the hourly close is above or below the Daily reversal level and enter into a medium term Buy or Sell trade when the weekly close is above or below the Weekly reversal level. The above levels are not recommendation for trade or investment & we will not be liable for any profits and/or losses arising due to trades done as per those levels. All the levels in the table are S&P CNX Bank Nifty Index Spot Levels. Please read the disclaimer and the terms of use of this site before applying any of the studies herein.
