Google+ NIFTY VIEW FOR 01-09-2009 ~ NIFTY DEMYSTIFIED

Tuesday, September 1, 2009

NIFTY VIEW FOR 01-09-2009

 

Supports: Nifty is still in uptrend in hourly chart and this fall seems like a correction rather than a trend reversal as long 4560/55-4505 is holding. 4620/10 will be crucial in the first session. Holding that nifty can bounce decent. Below 4610, intra weakness can bring 4585-4560/55-4505. But these are all buying zone on different time frame.

Resistances:4685/90 zone is important on opening bell. Crossing that nifty may well target 4710-4725/35 and decide the further course of the day. Above 4730 zone it can be real bullish again.

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