Google+ NIFTY INTRA DAY VIEW FOR 10-22-2009 ~ NIFTY DEMYSTIFIED

Thursday, October 22, 2009

NIFTY INTRA DAY VIEW FOR 10-22-2009

Nifty made high of 5122 but hardly sustained there, came below our resistance level (5115) immediately and could not manage above that for entire session and finally broke down. Now as the shorter term is weak it seems nifty may continue some more slide unless can not manage above 5152/60.

Supports: For current down move 5030/32 holds the key now. A bounce can come and test the resistances above. Below that some 4990-4940 is possible very easily.
Resistances: 5095-5120-5165/72. Trend will be under threat unless 5152/60 is taken out based on micro move.

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