The index opened near 4934 dropped below 4900 today,
lastly regained some strength and finally managed to close above 4900.the high
and low were 4954 and 4885 respectively.
The big fall expected further is not expected but
the signs of weakness are still prevelant. For tomorrow the level of 4955 is to
be keenly monitored ,if index remained below this then next level to be watched
is 4900 . Once this is broken with good volume based selling nifty would head
for 4890-4875.
If event of any
recovery attempt is seen index need to absorb supply between 4960-4980 ,if this
not taken out decisively we need not see desired upswing.
NIFTY LEVELS FOR TOMOROW
|
RESISTANCE1
|
4940
|
SUPPORT1
|
4870
|
|
RESISTANCE2
|
4980
|
SUPPORT2
|
4840
|
|
RESISTANCE3
|
5050
|
SUPPORT3
|
4800
|
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