Google+ NIFTY VIEW FOR 07-09-09 ~ NIFTY DEMYSTIFIED

Monday, September 7, 2009

NIFTY VIEW FOR 07-09-09


 
  
Supports: We are still comfortably in uptrend, as we were, without breaking the 4555 zone. Though it reversed from 4570, without touching 4555. Now in any case 4555 has to be broken to change the mode of the current trend. For the day 4685 can be pivotal. Below that 4642-4615 is possible and decide the further move.
Resistances: As I have been repeating for ages, that it's prudent to look for support rather than resistances (though this applies to positional trades), to get the most out of the move. Though day's resistances will around 4720/25 zone. Above that 4765/77 is achievable again. And as shown on the pic above, violation of those levels can create more good rooms for bulls by heading towards 4920-5010 positionally.

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