Google+ NIFTY INTRA DAY VIEW FOR 11-09-2009 ~ NIFTY DEMYSTIFIED

Monday, November 9, 2009

NIFTY INTRA DAY VIEW FOR 11-09-2009


Supports: As nifty in a corrective against the down fall we had, coming couple of session could be range bound with slightly positive bias. The medium term weakness has set in, so intra bullishness can also be used to create positional shorts. Immediate support lies @ 4755, Below that 4740-4720/13-4690 possible. Further break down can very well bring 4660/55-1580 zone.
Resistances: 4815 is the initial hurdle, above that Nifty can again try to hit 4850/60 zone. Above that 4890 is possible without disturbing medium term down trend.

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