Nifty Pivot for 16th April09

----S2-----------S1-------------Pivot-----------R1------------R2----
3245.40-----3364.75------3431.15------3550.50-----3616.90
Nifty Above the 200DMA (daily moving average) level of 3,445. Nifty can cross 61.8 per cent Fibonacci retracement level of 3,725.

Trading Signal for Nifty Positional Traders :
Initiate Long position in dip with 50% SL @ 3396 & remaining 50% SL @ 3270
Long positions Initiated
1. LT @ 800
2. ICICIBANK at 376
3. HeroHonda 1065