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

Wednesday, November 11, 2009

NIFTY INTRA DAY VIEW FOR 11-11-2009


Support: 4850 is big time crucial as a ABC corrective is ending there and also the 23.6RT of the entire 4531-4947 move and the trend line pivotal zone for nifty on hourly as well. Holding this some longs can surely be initiated. Below that further weakness can bring 4820-4795. Further violation can very well bring 4755-4710 and decide the further moves.

Resistances: The main hurdle lies between 4908-4922, a break above that can be a early indications of the impending breakout above 4940 zone. Once broken, Nifty can easily shoot up to 5000/05-50055/60 zone as discussed.

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