Google+ NIFTY INTRADAY VIEW FOR 07-20-2010 ~ NIFTY DEMYSTIFIED

Monday, July 19, 2010

NIFTY INTRADAY VIEW FOR 07-20-2010

We can not get more narrower than this, nifty is simply stuck in a range waiting for a push, but uncertainly persists as there evolving a scenario favoring equally bull and bear, 5453 proved to be a 5th completed zone and 5453-5363 is a 5 wave down move on the shorter time frame. So upside breakout to negate the 5 wave down move will occur above 5435 zone. 
Intraday support lies at 5370/65, below which it can certainly reach 5330-5310 zone deciding further move. 5260/70 is key to trend reversal.

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