5 January 2012

NIFTY OUTLOOKS FOR TOMORROW

As we predicted level 4800 acted as a hurdle for the market. Today market opened at 4749.00 made a high of 4775 points and again dropped to settle at 4749.90 points.
The market is expected to take cues from the global market and may open on flat note. Market is likely to take another rally of 40-50 points tomorrow.
Trading above 4800 would extend the bullish trend towards 4850 where as at lower side 4670-4700 would act as major support zone.
One can write nifty 4700 put option around 88-90 with SL of 30 points.  
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
4772.53
SUPPORT1
4729.77
RESISTANCE2

4795.77
SUPPORT2
4709.32
RESISTANCE3
4838.92
SUPPORT3
  4666.44   

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