NIFTY INTRADAY VIEW FOR 04-20-2010

Supports: Nifty is certainly critically poised in near term. On one hand it's nearing positional support levels and waiting for a correction against the fall, and on other hand it's behavior near resistance levels will determine the bulls strength. Main support lies @ 5155, below which it can go deep down towards 5110/5100, which is also a serious support zone. 

Resistances: 5250 and 5290 is real serious resistances. Correction against fall can bring these levels but close above those will bring more strength to bull's activity.

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NIFTY INTRADAY VIEW FOR 04-16-2010

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NIFTY INTRADAY VIEW FOR 04-13-2010

After 15 days of battle with my broken down net connection it got resolved and I am able to get back to you guys. A big apology to all my readers irrespective of missing my posts or not.

Nifty is in corrective mode after hitting the upper wall of the up trending channel. 5315-5375 is the range before any larger break out.

Supports: As discussed 5315/20 is the immediate support for the range being played out for now. Below that a fresh breakdown can bring 5280. Positional targets 5280-5220 below that.

Resistance: 5355 is immediate. Above that it can show a little strength for 5375. Breakout above 5375 can bring 5395-5415-5440/50 which will play out as bigger resistance zone.

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NIFTY INTRADAY VIEW FOR 04-06-2010

Supports: 5340 is immediate, below that 5320-5280 can be a possibility without harming the immediate uptrend. Below that or preferably below 5255 closing, 5210-5180/60 will come.

Resistances: 5375/80 is initial. Above that a speedy move towards 5405/10-540/50 is very possible.

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NIFTY INTRADAY VIEW FOR 04-05-2010

Last day I posted this chart, to show the current state of the path for Nifty on EoD chart. Will give the update for that. Currently Nifty is bouncing from it's short term support, and a break below 5250 can bring significant weakness in the mid term.

Supports: 5295 is immediate pivot, below that it can target 5275-5260, a closing below 5270 can bring some weakness for the lower targets around 5240-5190-5160 zone.

Resistances: 5325is immediate, above that 5350 will be targeted again, a break above that 5350 will set the tone for nifty towards 5375-5410-5440/60.

Till then range bound in between 5325-5260.

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