Google+ NIFTY VIEW FOR 29-09-2009 ~ NIFTY DEMYSTIFIED

Tuesday, September 29, 2009

NIFTY VIEW FOR 29-09-2009

WISH YOU A VERY HAPPY DASSERA TO ALL!!
As discussed, 5035 zone proved to be a resistance zone, and we really saw some profit booking around that level, and 4915 zone again proved to be a most important support level. After a correction of smaller amplitude Nifty is nicely poised, to take the decisive extended move in the either direction, 




It's clearly range bound in between  23.6 & 78.6 RT as shown on the figure above.

 

 
Supports: As per the shown Triangle on the above pic, 4950 is the crucial point to hold below that 4930 can well be under threat while breaking that this fall can extend upto 4865-4825/35-4778.

Resistances: 4986 will be pivotal zone, above that 5008/10 zone can be taken out for the further targets 5026/35-5083-5112.


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