Google+ VIEWS FOR 28-05-2009 ~ NIFTY DEMYSTIFIED

Wednesday, May 27, 2009

VIEWS FOR 28-05-2009


Another day of extreme volatility ended with a excellent demonstrations of technical credibility. The low made at opening of the day was bang on our main resistance 4184 (by making low 4181) thus asserted the bullishness for the day. It went up broke 4205 and hit exactly at 4236, our 3rd resistance for the day. Retraced and hold the low and shoot off, and yes it has closed bullish for the day. For the coming session above today's high it will try for 4336-4356/62. 4356/62 will be a important place to watch out for. Above which nifty can comfortably make another 50 odd up to 4391 and 4419. For the day 4272 is important, below that 4244 and 4212 is possible. Nifty is looking good for short term and will try to go up, but in any any case I feel these levels will provide clear ideas to trade quite comfortably. So for the coming session,

Supports: 4272 below that 4244-4212 is possible.
Resistances:Above today's high 4310-4336-4356/62, above this 4391-4419 is possible.
(All future levels, 15 minutes chart attached)
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