Thursday, July 9, 2009

VIEW FOR 10-07-2009

After halting twice at the first support point 4055, it was resisted around the first support 4095 (made high 4100) and came down to 4032, nearer to that 4012/4017. Though it did not touch but it was good to cover shorts and wait for buying signal. As it took the support and trying upside, got resisted big time around 4115 zone (high 4109). Now for the coming session nifty looks a little bit positive (just little bit), as long 4012/17 is holding. But on the upside everything depends 4115-4132 zone.

Supports: 4070 and 4050 is important for the first half of trading tomorrow. Below those two levels 4030-4012/4017 is again possible. Which is the most probable break down levels for further lower levels discussed earlier.

Resistances: 4082-4095 is just immediate. Main resistances would at 4115-4132/40. These two are big. Above 4132 zone we can see higher levels around 4176/82-42546/52 levels.
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