Nifty MAGIC Levels For Today

[myno4444]

sirjee tanks for the levels,its helping us a lot.

 

[shoby]

NIFTY MAGIC LEVEL 4.5.10

MAGIC POINTS ARE 5240 and ...
Resistance & Support POINTS ARE 5280... AND 5197...



LVL 1)BUY NIFTY FUTURES ABOVE 5251.... S/L below 5231.. SELL BELOW 5229... S/L ABOVE 5249


LVL 2) Buy NIFTY FUTURES ABOVE 5291 .S/L below 5271.... Sell below 5269... S/L above 5289......


LVL 3) BUY above 5208 --S/L below 5188....
SELL below 5186.. S/L above 5206...

4th MAY Pivots

5166<-->5197<-->5240<-->5280<-->5311<-->5342

 

[silviston]

Thanks for your contribution...

I have a question on the magic Number 5240, what does it signify if the buy/sell points are different from the Magic number.

In other words what will i do if nifty is trading

1. Just above 5240
2. Just below 5240

Thanks and Appreciate your comments

 

[shoby]

The Magic points are strong support or resistance points...and market will test and retest those points ....we need to take risk there...say today Magic is 5240 and the high till now is 5238...we could have short around 5240 with stoploss by Level 1,buy above 5251 and reverse trade there....we cant trade without risk of stoploss but we can manage the stoploss to be near our trade so the loss will be minimal.Levels1.2 &3 are just filtered levels derived from the Magic or support or resistance points.
What a day today...even if short at high 5238 by Magic was missed ,LVL 1 gave sell below 5229 and it fell in a straightline to 5140 and ended at the low point of 5130....

 

[shoby]

NIFTY MAGIC LEVEL 5.5.10

MAGIC POINTS ARE 5197 and ...
Resistance & Support POINTS ARE 5244... AND 5087...

LVL 1)BUY NIFTY FUTURES ABOVE 5208.... S/L below 5188.. SELL BELOW 5186... S/L ABOVE 5206



LVL 2) Buy NIFTY FUTURES ABOVE 5098 .S/L below 5078.... Sell below 5076... S/L above 5096......


LVL 3) BUY above 5255 --S/L below 5235....
SELL below 5233.. S/L above 5253...

5th May Pivots

5025<--->5056<-->5087<-->5197<-->5244<-->5275<-->5306

 

[shoby]

NIFTY MAGIC LEVEL 6.5.10


MAGIC POINTS ARE 5160 and ...
Resistance & Support POINTS ARE 5213... AND 5080...


We have 5160 as the Magic number , so its buy above 5160 and sell below 5160 with support and resistance at 5080 and 5213. If Magic is not reached we have the Levels below to trade...


LVL 1)BUY NIFTY FUTURES ABOVE 5171.... S/L below 5151.. SELL BELOW 5149... S/L ABOVE 5169



LVL 2) Buy NIFTY FUTURES ABOVE 5091 .S/L below 5071.... Sell below 5069... S/L above 5089......



LVL 3) BUY above 5224 --S/L below 5204....
SELL below 5202.. S/L above 5222...

6th MAY Pivots

5049<--->5080<-->5129<-->5160<-->5213<-->5234

 

[navdeepnagi]

I really appreciate your magic levels. They are very precise and works well most of the times. How do you calculate these levels? Cheers!!!!!!!! Keep up the good work.

 

[shoby]

Very glad some are finding it usefull..if you were following some other systems ,you can use these levels as additional information and make best use of both....by the way looks like LVL 2 will play important role today....

 

[vinst]

NF below last pivot given for today (5049) !!


vin

 

[shoby]

NF below last pivot given for today (5049) !!


vin

:clapping: May be that was the warning to start booking profits and markets will bounce back....