Google+ INTRADAY NIFTY VIEW FOR MUHURAT TRADING ~ NIFTY DEMYSTIFIED

Saturday, October 17, 2009

INTRADAY NIFTY VIEW FOR MUHURAT TRADING

Yesterday Nifty moved above the first resistance point 5124 and made pivotal for the day while touching and hovering around the next resistance @ 5144. It's still looking bullish and up-trending though some serious resistances are nearing.


Supports: Immediate support is @ 5120, below that it can be weak for the session for 5099-5070/68. Below 5068 shorts can be taken positionally for a target around 5000-4980/72.

Resistances: The current scenario is making this resistances points easy to obtain but tougher to trade with, above 5152, 5165-72 will be on the cards, but with 5217/30 longer term resistances taking into account. So going for intra longs as long supports are holding and accumulating puts in between 5215-5300 can be better idea (positional view).


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