Google+ NIFTY INTRA DAY VOEW FOR 12-02-2009 ~ NIFTY DEMYSTIFIED

Wednesday, December 2, 2009

NIFTY INTRA DAY VOEW FOR 12-02-2009

It's a clear bull show. Every single hurdle is crossed with ease and every target is being achieved. 5065 is crossed early morning and there were no stopping. I updated once about intermediate hurdle 5095 and that was crossed with mildest hiccup. 5110 and we just at threshold of 5145. Which should be considered as a very important closing basis resistance (posted on 26th Nov) for further confirmation on the shorter term chart (long term as usual bullish). Now take a look @ look at HL levels.
 
Quite clearly 5170/74 is the main zone again, same as the last time. Above that Nifty will breakout also on the short term chart for newer territories. Longs initiated above 5065-5095 can be booked there once.So for the day,
Supports: 5110-5090 is the most important for immediate moves. Longs can be initiated if we get the dip. Reversal on short term chart can come below 5065.
Resistances: 5145 closing and 5170/74 is clearly big zone and want to do some profit booking there from intra day perspective, though we are bullish. Above 5175, 5220-5250 is very much possible. Further gain can show up 5300-5350.


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