Google+ NIFTY INTRA DAY VIEW FOR 11-10-2009 ~ NIFTY DEMYSTIFIED

Tuesday, November 10, 2009

NIFTY INTRA DAY VIEW FOR 11-10-2009

The only thing we can do in this market in a regular basis is learning everyday!! And why not?? The was Nifty took it up, the only thing we (at least me) could do was watch that happening. I was simply not ready for post 4890 levels. It took me into surprise and here I am waking up till 6:15 A.M in morning to reveal some facts by digging the nifty deep.

Support: 4880-4860 is the immediate buying zone. The way Nifty has moved through that level it won't be very easy take for nifty to break it down. Below that some more weakness can bring it down towards 4830-4818 zone.
Resistances: Initial hurdle is @ 4935. Staying above that Nifty can easily do 4972-5000/05 and can be tested once more by the bears. violation of those levels can show 5060. 4975-5060 is a strong resistance band. We are in bullish trend from intra day perspective but nearing some big positional resistance band, keep booking your intra day profits.

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