23 October 2012

NIFTY TIPS FOR 25 OCT 2012

Sell  Nifty future below 5690 tg 5660,5630,5600 sl 5725
NIFTY OUTLOOK FOR TOMORROW
A lack luster movement was noticed   today due to a Dasara holiday and expiry of futures and option contracts on Thursday. Overall the Nifty has been in a range of 5630-5730 since last two weeks due to lack of major global and local cues. Investors also awaited the move from Reserve Bank of India on 30 OCTOBER 2012...
Nifty is in a range and needs to break out from there. The range is roughly 100 points for the Nifty and the lower end of it is 5625, and upper end is about 5750. So any move outside these levels should give rise to a better move. We hope  that nifty will break out downwards as nifty future is facing  a strong resistance at 5720.
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RESISTANCE:5700 5720, 5770
SUPPORT      :5640, 5610, 5600

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