11 March 2014

VOLATILE TRADING SESSION WITNESSED BY NIFTY

As we have predicted level 6550 gave a  good support.  Nifty started at 6575 and marched till 6587 in morning session ,but couldnot sustain the uptrend throughout the day. Nifty fell till 6522 in late trade and again recovered to settle at 6545. The index continues to scale up though with much less momentum compared to last trading session ...
Now, it has established a support area between the 6500-mark and 6480—this would be the initial support zone. On the way up, the small zone between 6550 and 6580 would be the first supply zone once it gets past the 6550-mark. Other higher targets are 6580, 6590 In case of any profit taking, unless it stays below 6480, there is no need to worry as such.
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RESISTANCE:6560, 6580,6600

SUPPORT:     6540, 6520,6500

4 comments:

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