Thursday, July 16, 2009

VIEW FOR 16-07-2009

Nifty continued it's gains for the consecutive 3 days, and a whopping 110+ points again. Sorry again for not able to post the blog, but somehow the bullish view worked :). And needless to say we have ended bullish above 4239. Now for the day coming 4297 and 4328-4346 is achievable. though my personal positional target is around 4520, still for the day to come I will wish to watch it's movement closely around 4350. A break above 4370 (a top to top trendline barrier), will confirm the move towards 4500.But for tomorrow 4328-4346 looks important from a intra day perspective.

Supports: 4222-4210 can be crucial , below that 4165 is possible. But momentum will be up all in all.
Resistances: 4275-4297 is mild resistances. Main resistance lies around 4328 (came because of data aberrations) and 4346. A convincing break above 4370 can take nifty towards 4520 odd levels.
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