TOUGH FIGHT BETWEEN BULLS AND BEARS ON 17-04-14

"Buy Petronet Future above 142.8 TG 144.5/146.8 SL 140.3"

NIFTY FUTURE OUTLOOK FOR TOMORROW

As we have predicted the nifty couldnot cross the level of 6800 today.Nifty future opened higher and made a high of 6780 but edged lower after the forecast of june –september monsoon below normal this year.  The low of 6688 was  witnessed today by nifty The index has turned quite weak it can slide further down if it were to fall below 6690   key support area. Once 6705 is taken out decisively on high volume activity and the index might go down to test  6650 strong support zone....

While a move up to 6650 would be on anticipated lines any further fall was envisaged when we had been expecting a correction in the index up to 6650 from the highs 6819. In the unlikely event of the level of 6650 getting broken then another 100 point fall could well come to pass.

More about intraday tips on Google +

RESISTANCE: 6,700, 6,720, 6,750

SUPPORT:  6,720, 6,700, 6,680