MARKET TREND FOR 16FEB 2012
As we have mentioned
in our previous post Index has
maintained its upward pace and crossed even the level of 5500today.Nifty opened
at 5460 this morning and continued to gain upswing hitting the high of 5534.65
in last trading session. The stock is likely to remain bullish for the rest of
the week .We ought to admit that our estimation of corrective upswing in coming
session proves true, now levels on upside that we need to watch out for would
be 5500.If this level is taken out decisively then the next level that would
hold key to an eventual testing of 5590-5600. If the nifty falls but does not
test even 5400 would suggest that bulls
have absolutely no problem pushing things further up .OUR nifty strangle
strategy is rocking now call of 5400 had made a high of 171 today still
continue to hold.
NIFTY LEVELS FOR TOMORROW
RESISTANCE1
|
5500.55
|
SUPPORT1
|
5497.85
|
RESISTANCE2
|
5518.25
|
SUPPORT2
|
5513.85
|
RESISTANCE3
|
5521.95
|
SUPPORT3
|
5510.15
|