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Trading Levels for 12.08.2009 |
SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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Post: #1  Posted: Wed Aug 12, 2009 10:41 am Post subject: Trading Levels for 12.08.2009 |
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NIFTY FUTURES Trading Levels for 12.08.2009
Sorry, I am late today.
R5 4754.40
R4 4653.40
R3 4618.45
R2 4552.40
R1 4528.55
BULL 4490.00
LOC 4439.00
BEAR 4389.00
S1 4350.40
S2 4326.55
S3 4260.50
S4 4225.55
S5 4124.55
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Srikanth Kurdukar
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pnaphade
White Belt
Joined: 08 Nov 2008
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| Post: #2 Posted: Wed Aug 12, 2009 5:47 pm Post subject: NIFTY FUTURES Trading Levels for 12.08.2009 |
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SwingTrader,
What do you mean by LOC?
Thanks. |
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ravin_06
White Belt
Joined: 05 Oct 2008
Posts: 31
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| Post: #3 Posted: Wed Aug 12, 2009 8:12 pm Post subject: Re: NIFTY FUTURES Trading Levels for 12.08.2009 |
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| pnaphade wrote: | SwingTrader,
What do you mean by LOC?
Thanks. |
LOC * MEANS LINE OF CONTROL.  |
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SwingTrader
Site Admin
Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #4 Posted: Wed Aug 12, 2009 8:55 pm Post subject: Re: NIFTY FUTURES Trading Levels for 12.08.2009 |
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| pnaphade wrote: | SwingTrader,
What do you mean by LOC?
Thanks. |
As ravin said below it means LINE OF CONTROL. It is a key level that determines who is in control of the trend. If price moves above LOC it is bullish and if price moves below LOC it is bearish.
Please look at my "Trading Guidelines" post for more details. Do note that the names of all levels are just labels. The most important thing to remember is that if price is above a level then that level will act as support and if price is below a level then that level will act as resistance. All these levels act as support or resistance based on where the price is relative to the level.
One other key thing to remember is that on most days price will stay between BULL & BEAR levels. If price opens above BULL level or goes above it in a short time (within the first hour) after market open then price can rally hard. Vice versa for BEAR level.
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Srikanth Kurdukar
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