Google+ VIEWS FOR 26-05-2009 ~ NIFTY DEMYSTIFIED

Tuesday, May 26, 2009

VIEWS FOR 26-05-2009


Nifty bounced twice exactly from our support of 4212 by making low 4210 and 4205 respectively. It crossed 4266 just once for 9 points but could not sustain. For the coming session 4258/76 is very important for any further upside momentum, and below 4205/4200 is very important. The coming session may turns out to be a breakout day, so unbiased approached is required for tomorrow's trade. crossing 4272 may well bring 4303/4315 level, and crossing 4315 convincingly can bring 4345 and 4390 as well. Above 4390 there remains a possibility of another 150-200 point up move. So for the coming session,

Supports: 4205/4200, below that can target 4184-4161-4130-4025
Resistances:4058/72, above that can target 4303/4315-4345-4390

Use violation of 4184 as downside confirmation

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