April 21, 2009

Intraday View For 21/04/09

Nifty: Resistance 3399/3414/3445
Support 3331/3311/3280/3260

Nifty corrected from our Resistance zone of 3440 & took support at our suport zone of 3333. Now Nifty has strong support @ 3260/3220 zone. Below it, expect some more selling. Many stocks are still in overbought zone after non-stop rally in them, so avoid them.
Dow Jones corrected 3.5% leading to weak opening of Asian markets...... expect a gap down opening with 30-40 Pts in Nifty.
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