NIFTY INTRADAY VIEW FOR 02-25-2010

Supports: 4840 is immediate. Below that 4808/00-4785. Positional supports lies @ 4750-4715/10.

Resistances: 4890 stays as it is. Above that 4910/25 possible. Further breakout will bring 4960-4985, which can be a reversal points for the down move.

Trades are advisable to take only after a valid breakout or breakdown from a certain level.

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NIFTY INTRADAY VIEW FOR 02-24-2010

4835 provided support as discussed yesterday. Nifty is absolutely range bound between 4920 and 4800. But some impulsive action from upside down implying some impending weakness in it.

Supports: 4860 will be the first support zone. Below that 4840 is another crucial level. Violation of this level can bring 4820-4808/00-4785. Below that 4750-4715/25 are achievable.

Resistances: 4895 and 4915, a confirmatory breakout above 4925 will bring 4945-4975/85 to decide further movements.

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NIFTY INTRADAY VIEW FOR 02-23-2010

Expectations of Budget & expiry in this week resulted into a very nervous to the market. Market reacted from the given levels of 4925 but certainly inconsistent in it's movements. As of now 4919 holds the key to the up side.

Supports: 4835 is immediate. Below that 4800-4785 can possible before any further breakdown. Below that 4720/10 is possible before any handsome pullback.

Resistances: As said above, 4919 is the key now. Above 4920, it can again move towards 4960/75 zone to decide the further moves.

Trade slow, trade safe.

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NIFTY INTRADAY VIEW FOR 02-22-2010

 

Supports: 4800 is immediate. But as one downward impulse is in course, targets can be deep below 4795/4790. 4750-4715 will be the immediate target in that case.

Resistances: 4885 very important place. Above that 4905-4925 is possible in no time. Further BO can bring 4955-4960/80 before deciding any further moves.

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NIFTY INTRADAY VIEW FOR 02-19-2010

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NIFTY INTRADAY VIEW FOR 02-18-2010

It touched 4829 (resistance given 4825) before reacting today, and nifty and bank nifty both are nearing bigger resistances. And as budget is in the corner we can expect a bigger move on wither side (technically down from resistances).

Supports: The shorter term impulse and longer term corrective is unchanged till 4960-4985 is crossed. Will be wise to book longs and going short with strict s/l. Day's supports are lying @ 4870/75-4840-4805. Below that resumption of the downtrend is most likely.

Resistances: Same lies @ 4925-4960-4985. These are all positional target of nifty which is partially achieved. Closing of longs would be a better idea. But in case goes above 4985 and sustains, 5050-5080/85 is possible. Be light with your position and experienced trader can look at hedging opportunity because of special event like budget.

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NIFTY INTRADAY VIEW FOR 02-17-2010

At last short term impulse which was being discussed on the bog for last couple of days witnessed a good break out. Although it's still in bearish zone and yet to confirm a the reversal of the bigger down move of 5303-4667, it was worth playing long. Now as it has broken past 4875 as well, it can have some more fuel to for upside.

  

Supports: Continuation of the up move is intact. Most crucial supports for this up move are placed @ 4825-4785. Violation of these two levels can bring 4740-4705 in no time.

Resistances: 4920/25 is immediate. Above that more bullishness from intra perspective can be seen, which can bring 4960-4970/85. Positional longs should be booked once on given resistances.

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NIFTY INTRADAY VIEW FOR 02-16-2010

The current range in nifty is decreasing gradually and yet to give the confirmatory movement on either side after witnessing a mild correction on the upside against the downtrend on hourly. Sideways move had resulted into cluster of supports as well as resistances on either side, before any decisive movement on shorter time frame.

Supports: 4775 and 4750/52 are immediate, below that some more weakness can show 4705/08 before final breakdown. Below that 4640 and positional target of 4540-4440.

Resistances: 4805 and above that 4835 possible. Above that 4855-75 can come.Further violation of 4880 zone can bring 4920-4940/55 zone and decide next movements.

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NIFTY INTRADAY VIEW FOR 02-15-2010

Supports: Very short term trend seems uptrending. Supports for going long would be @ 4815-4790/85 zone. Below that 4740-4720 is important positional support zone. 

Resistances: 4855-4875 as discussed. Above that 4915/20-4960 are very much possible.

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NIFTY INTRADAY VIEW FOR 02-11-2010

So 4825 worked brilliantly (high made 4823.5) and still holds the good for bears. The corrective up looks to be weakening as long 4825 is breaking on the upside. Though as discussed on yesterday's post that an 5 wave impulse is in course in the smaller time frame on the upside, so that's the last hope for the bulls to make this corrective up a bit more lengthier.

Supports: Immediate support is 4745. As told previously, as the very short term chart exhibiting impulse upward movements, so 4715-4690 is the most critical place to sustain this upside rally. Below that 4640 can come in no time. Further break down can bring 4520-4440 positionally.

Resistances: 4765-75. Above that It can witness some recovery upto 4795-4805. Main hurdle still @ 4825. Above which 4860/75 can bring very easily. More strength can bring 4915-4935-4955/60.

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