Nifty: Resistance 2555/2573/2629/2644
Support 2499/2482/2432
View: Nifty bounced from lower areas & closed at days high.Extremely week global conditions are not keeping things up. Yesterday, yet again Dow Jones crashed, indicating more falls underway.
Nifty is overall "Bearish".
But indicators ( ROC,RSI,STOCH... ) shows oversold zone & pullback from lower levels cannot be ruled out, but FII's are again net sellers in both segments (as per provisional figures) , indicating that they don't care about technicals.
Possibilities:
Closing & sustaining below 2470, will invite to re-retest old lows.
Closing & sustaining above 2630 , will lead to some recovery/short-covering up to 2880/3050.
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