Google+ NIFTY INTRADAY VIEW FOR 07-21-2010 ~ NIFTY DEMYSTIFIED

Tuesday, July 20, 2010

NIFTY INTRADAY VIEW FOR 07-21-2010


Nifty correction continued and gathered some pace after breaking 5370, but the long term uptrend is intact leaving some more room to the downfall. Support lies @ 5330 (very important)-5300-5260/70. For tomorrow closing below 5330, can drag nifty towards the above said lower levels. But part profit booking is advised near 5330-5300 for shorts. Below 5260 it can move really deeper to 5220-5130 before stabilizing.
Resistance lies @ 5360-75, above which 5415-25 is possible. A cross above 5435 can nullify the bearishness and result into resumption of the uptrend.

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