Google+ NIFTY INTRA DAY VIEW FOR 11-27-2009 ~ NIFTY DEMYSTIFIED

Friday, November 27, 2009

NIFTY INTRA DAY VIEW FOR 11-27-2009

We began the day with low of 5080 (support was @ 5085) and bounced very little. Broke down 5085 and straight down @ 5065 (support discussed 5065/60), but some longs might have built at that support, but s/l was so small for longs. Below 5065 it was one way movement on the 2nd half of the day. And from immediate perspective, say for next 1-3 session, mantra can be short on rise.

Supports: 4970-4950 can a be zone for intra bounce, And very very crucial from closing perspective. A close below 4970 will not augur well. So If some body is playing for a intra day bounce s/l can be below 4950 zone initially. Below 4955/52 zone 4915-4895.90 can come in a whisker.
Resistances: 5025-5040/45. 5040/45 zone is really big. Nifty has made two tough resistances in these last few sessions which are 5060/65-5095, above 5044 zone, those levels are achievable, but those will be opportunity for shorts unless some wonder happens.

1 comments:

Post a Comment