3 September 2013


Nifty had a great start at 5574 but could not sustain this level and ende at 5341.Since last time when we had four consecutive trading day in the green between we saw the reversal coming in a big way today. ....
Thus, being pattern followers that we technical analysts are, we are naturally somewhat anxious to see how the index performs tomorrow. However, one thing going for this rally is the likely strong support between 5400 and 5450 unless this range is taken out on the downside on heavy volume and lots of fresh position build up in the derivative segment, we need not be so bothered yet monitoring the above critical segment with a constant vigil. Next support range is between 5400-5350.
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RESISTANCE:5450, 5480,5500
SUPPORT:     5440, 5380,5350

1 comment:

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