15 February 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 16FEB 2012
As we have mentioned in our previous post Index  has maintained its upward pace and crossed even the level of 5500today.Nifty opened at 5460 this morning and continued to gain upswing hitting the high of 5534.65 in last trading session. The stock is likely to remain bullish for the rest of the week .We ought to admit that our estimation of corrective upswing in coming session proves true, now levels on upside that we need to watch out for would be 5500.If this level is taken out decisively then the next level that would hold key to an eventual testing of 5590-5600. If the nifty falls but does not test even   5400 would suggest that bulls have absolutely no problem pushing things further up .OUR nifty strangle strategy is rocking now call of 5400 had made a high of 171 today still continue to hold.
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
5500.55
SUPPORT1
5497.85
RESISTANCE2

5518.25
SUPPORT2
5513.85
RESISTANCE3
5521.95
SUPPORT3
  5510.15   

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