Nifty levels to watch for 23Jan2017

NSE:NIFTY   Nifty 50 Index
Hi All,

Some callers asked me how to Trade on below Algo Levels.

So I am replying it within idea.

a. If a support or resistance level is broken, it signals that the relationship between supply and demand has changed.
b. A resistance breakout signals that demand (bulls) has gained the upper hand and a support break signals that supply (bears) has won the battle.
c. If a security is approaching an important support level , it can serve as an alert to be extra vigilant in looking for signs of increased buying pressure and a potential reversal. If a security is approaching a resistance level , it can act as an alert to look for signs of increased selling pressure and potential reversal.

We all know Points a and b well. But Point c is where one should focus on

For more recent visualization, you can play my previous idea: Nifty levels to watch for 20Jan2017
Link given below.

Also note -
These are Options Chain and Options Greeks methodology. Bit complex to write. I write Algo codes in computer on this and then Computer derives these levels. Means they are precise and not rounded off while mentioning in idea like below here.
So underlying needs to trade minimum 1 lot to validate it as S or R.

Nifty levels to watch for 23Jan2017

So Trading on Algo principles:
Derived Algo trading levels on derivative NIFTY17JANFUT
R2 :: 8395
R1 :: 8379
S1 :: 8343 (Mild)
S2 :: 8320
S3 :: 8300

Please keep on booking profits.
Happy Trading!


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