Nifty started in green i.e. above 6100 but couldnot sustain
it throughout the day,slipped till 5960 but again ended at 6012.Chances are we would see a flat opening we need to see if the index manages to get
past the 6100 immediately of course the resistance to watch out for is located
at 6120. Today, the sequence of resistance levels is as follows 6120, 6150....
Monday there is every possibility of some serious profit taking happening. At higher levels expect quite a bit of profit taking and no fresh long positions should be taken given the kind of closing near the day’s low by the US indices. Thus, we need to be quite circumspect in taking fresh long positions and be keenly vigilant about the ones that are outstanding.
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RESISTANCE:6050, 6100,6150
SUPPORT: 6040, 5980,5950
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