Nifty MAGIC Levels For Today

[subratdas]

dear shoby,
I was going thr the postings on magic levels. please let me understand what is the impo4rtance of the mahic level? Is this the point where mkt is supoosed face max support and resistance?

Thanx in advance
Subrat

 

[shoby]

dear shoby,
I was going thr the postings on magic levels. please let me understand what is the impo4rtance of the mahic level? Is this the point where mkt is supoosed face max support and resistance?

Thanx in advance
Subrat

Dear Subrat,Yes Magic point is just a huge support/resistance expected of the market and the levels are just 11 points below and above the Point to take care of whipsaws.

 

[pundit]

today nifty is not in range of these levels till now... if goes below 4964 then short nifty..

 

[pundit]

So nifty gave 40 points profit today......

Sell below 4964 target 20 points achieved at 4944.

Sell again at 4937 target 20 points achieved at 4917..

 

[shoby]

NIFTY MAGIC LEVEL 25.5.10


MAGIC POINTS ARE 4987 and ..

Resistance and supports are ....and 4932,4875




LVL 1)BUY NIFTY FUTURES ABOVE 4998.... S/L below 4978.. SELL BELOW 4976... S/L ABOVE 4996.


LVL 2) Buy NIFTY FUTURES ABOVE 4943 .S/L below . 4923... Sell below 4921... S/L above 4941......



LVL 3) BUY above 4886--S/L below 4866. ... SELL below 4864.. S/L above 4884 ...

25th MAY Pivots

4813<-->4875<-->4932<- 4987->5018<---->5049<---5080

 

[shoby]

Look at the last support the system gave and high for the day......and sell by only level nifty came into range LVL 3,sell below 4864, gave good profit...

 

[pundit]

exactly.. but I suggest to stick to 20 points profits.

 

[p128]

Yes sure ,pls do go short at this timing , market will drop further to a new record low of this 10 yrs !

 

[shoby]

NIFTY MAGIC LEVEL 26.5.10

MAGIC POINTS ARE 4854 and ..

Resistance and supports are 4943....and 4765

There is one more level the system has given....4881.....I did not give it here earlier as I felt it not important....may be it can come into play..so above 4892 and below 4870.
LVL 1)BUY NIFTY FUTURES ABOVE 4865.... S/L below 4845.. SELL BELOW 4843... S/L ABOVE 4863.


LVL 2) Buy NIFTY FUTURES ABOVE 4776 .S/L below . 4756... Sell below 4754... S/L above 4774......


LVL 3) BUY above 4954--S/L below 4934. ... SELL below 4932.. S/L above 4952 ...

26th MAY Pivots

4734<-->4765<-->4792<- 4854->4881<---->4943<---4974

 

[shoby]

Friends, today our Magic is "MAGIC" for sure....