Google+ NIFTY INTRADAY VIEW FOR 04-05-2010 ~ NIFTY DEMYSTIFIED

Monday, April 5, 2010

NIFTY INTRADAY VIEW FOR 04-05-2010

Last day I posted this chart, to show the current state of the path for Nifty on EoD chart. Will give the update for that. Currently Nifty is bouncing from it's short term support, and a break below 5250 can bring significant weakness in the mid term.
Supports: 5295 is immediate pivot, below that it can target 5275-5260, a closing below 5270 can bring some weakness for the lower targets around 5240-5190-5160 zone.
Resistances: 5325is immediate, above that 5350 will be targeted again, a break above that 5350 will set the tone for nifty towards 5375-5410-5440/60.
Till then range bound in between 5325-5260.

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