Google+ NIFTY VIEW FOR 14-07-2009 ~ NIFTY DEMYSTIFIED

Tuesday, July 14, 2009

NIFTY VIEW FOR 14-07-2009



From the above 2 pic it's quite clear that 4039/44 is the level to watch out for fresh breakout or resumption of breakdown. Above 4039/44-4051 it can extend more. But surely will like to see how it behaves around those levels, to find any opportunity to short, as still it's a correction against the downfall taking place. Crossing of that 4051 can give some sign of strength for further target of 4081-4127/32.


Supports: For intra day support lies at 3954 and 3942 zone. But if it touches 4039/51 zone first, 3990/3975 can well be a pivotal zone.Below 3942, 3920 is a mild support.
Resistances:3992 and 4003 are immediate hurdle for Nifty. Above that previously discussed 4039/44-4051 is achievable. Which is the most crucial level for this corrective up move. Above that a fresh breakout may bring 4181-4132 level in nifty again. But 4039/44-4051 levels are big for BEARS.
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