2 July 2013


Buy Nifty future 5870 tg 5890,5910,5930 sl 5840
Nifty opened higher but could not cross and sustain 5900 today, it made a high of 5897 and low of 5857 in intraday trade Over the last seven days, Indian market has been one of the best performing markets with the Nifty posting a gain of 338 points counting from the low of 5566 to the high of 5902 . Now, it has crossed quite a few major hurdles on the way up only the last significant resistance around 5940-mark is left to be conquered before it again hits 6000 or higher levels....
We need to see if it manages to do that to continue this dream run. Now, the first sign of continued strength would be seen if the index does not fall below 5860 This is the first critical support area, which unless broken could see the bulls taking the index beyond 5940-mark as well. The index would show real weakness, however, only when it falls below the range between 5830 and 5820-mark and closes there as of today. On the upside, getting past the supply pressure around the 5900-mark, it would face minor supply pressure between 5920 and 5940o levels and then the levels around 5940 could bring in strong supply pressure as noted earlier.

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 RESISTANCE:5880, 5900,5960

SUPPORT:     5820, 5800,5750


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