Google+ NIFTY INTRA DAY VIEW FOR 10-14-2009 ~ NIFTY DEMYSTIFIED

Wednesday, October 14, 2009

NIFTY INTRA DAY VIEW FOR 10-14-2009



Supports: Sustaining above 5050  will be always good for higher levels. Below that nifty can get little weak, where 5024-4985 will provide the initial support.

Resistances: 5096 is initial hurdle, which was almost reached on previous high for Nifty @ 5089.6. Now crossing that (after sustaining 5050) can bring 5131-5162-5218 (IT MAY TURN OUT TO BE BIG PROFIT BOOKING ZONE), while close above 5162 zone will be super bullish and can nullify the topping out scenario and can move towards 5470-5545 level (positionally). Personally will try to go short/exit holding stocks now onwards on every up move around 5130-60.

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