Google+ NIFTY INTRA DAY VIEW FOR 01-05-2010 ~ NIFTY DEMYSTIFIED

Tuesday, January 5, 2010

NIFTY INTRA DAY VIEW FOR 01-05-2010

It's a clear bull show again where tiniest amount dips were utilized as buying opportunity. We managed to break 5230 and traded quite convincingly above that. And finally closed  just @ 5240. No downside level is broken, so no impending as of now, and still a buy on dips situation.
 
Supports: As shown on the chart 5230-20 is an important zone for support. Below that, as discussed on yesterday, 5205-5175 possible.
Resistances: As we are above 5230, positionally targets are 5295-5340/45. But from intra day perspective 5250 is important, above that 5285/95 is easily possible with higher targets of 5330-5340/45(main) in hand too.


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