Google+ NIFTY VIEW FOR NEXT WEEK AND 22-09-2009 ~ NIFTY DEMYSTIFIED

Tuesday, September 22, 2009

NIFTY VIEW FOR NEXT WEEK AND 22-09-2009

Weekly View:

Nifty exhibits almost the same behavior as of our projections made on earlier posts. We have discussed a number of times on the importance of 4915 level in our previous intra posts. On the other hand 5220 was also being predicted and analyzed. Take a look on Nifty from a classical technical perspective.



Last pic was posted on
19th July

So 4913 will be support for immediate move, below that more lower levels can come into play, which will be projected on intra section below. On the upside above 5010/35, Nifty can extend it's further gain up to 5121-5218.

Intra view for 22-09-09: 5010-5035 remain the main hurdle. Above that nifty can easily extend the gain further.





Supports: Immediate support for tomorrow lies @ 4960/55 zone, below that it can get little weaker and prone to break 4942. 4913 zone holds the key below 4942. Violation of which can bring 4880/68-4810-4778.
Resistances: 4996/98 is very immediate hurdle on the upside. Above that 5010-5035/40 can be retested again. I personally feel it's wiser book some longs (intra/positional) around these levels. 


Keep eyes on RELIANCE... it's not looking that great below 2120/27 for bulls. Violation 2085/80 can bring more downside to this stock.

1 comments:

Post a Comment