23 May 2013

NIFTY OUTLOOK FOR TOMORROW

There was lack luster movement in the market today. Nifty started at 6136 moved in a range of 20 points throughout the day.6110 acted as the line of support .While the prospect of the index sustainably moving up again tomorrow  looks a bit remote yet we need to keep in mind the critical levels that have the potential to bring strong supply pressure in any recovery attempt: first, the range between 6030 and 6040 would be such a zone unless crossed we can’t even think of any recovery.....
Now, assuming such a thing happens and the Nifty trades above 6050 on good volume for some time, the next range that would act as a strong resistance zone is located between 6062 and 6070. The 6200  level is not just any level, it has been the projected target level for the intermediate upmove. Once this level is reached or temporarily breached, we ought to understand that a correction is much more likely to happen than the one way move continuing further.
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 RESISTANCE:6150, 6180,6210
SUPPORT:     6130, 6115,6100

1 comment:

  1. Awesome thank you so much! I am also like you – love to trade . I do enjoy intraday nifty trade. I will be following these tips next time

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