Google+ NIFTY INTRA DAY VIEW FOR 01-08-2010 ~ NIFTY DEMYSTIFIED

Friday, January 8, 2010

NIFTY INTRA DAY VIEW FOR 01-08-2010

As discussed y'day, nifty made high exactly @ the given resistance of 5295, and started correcting for the day. It's still in a corrective range and truly it's quite difficult to trade the narrowest of range.

Supports: Sustaining below 5260 can extend the correction little more towards 5235/40 zone, which is arguably one the most crucial place. Holding that nifty can spin higher again. A fall below that a really show very speedy 5200-5140 (most important place for positional long/short).
Resistances: 5275-85 is big. Above that 5330/35 again possible as discussed.


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