Google+ NIFTY: IF YOU GET THE LEVELS RIGHT (VIEWS FOR 23-04-2009) ~ NIFTY DEMYSTIFIED

Thursday, April 23, 2009


After clearly stating about the 3405 level nifty we are still looking for good trades, isn't it? Yes that's the way trading is. Anyway, nifty was unable to cross the 3405 barrier and fell significantly after making high at 3397 up to 3286 (support told at 3291). Now the nifty is poised nicely for the next big move. We are in downtrend from very short term perspective and tested a very crucial medium term support. Though the exact level remains at 3268-3257 as stated in the blog in earlier post.I personally feel if 3341 is crossed, for tomorrow the main level would be 3372 on the upside where the bulls can face some serious barriers to cross that, but once crossed it will head towards 3425 levels, that means a serious 50 odd points movement will be on the cards. Above 3425 it will be a hold if somebody buys before. On the downside 3306 will be pivotal below which again it will bring 3291 and the main 3268-3257 levels into play. But all in all I honestly feel, tomorrow will be a great day to trade (Of course with good levels). So to sum up:

Supports:3306/3290/3268-3257;
Resistance:3341/
3372/3403/3425
(All Future levels)
Have a great day folks!

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