Nifty: Resistance 4333/4350/4370/4420/4444
Support 4280/4240/4225/4191
Nifty witnessed some big intraday movements of recent times (4200-4500) & such volatility is expected. Post buyer freeze, booking was expected from higher range, which happened. So now Nifty got a new range to trade in.
With now 4640-4660 being now a critical resistance, we may slowly drift towards 4050-3950 , sustaining below 4300.
Nifty View: Actually we over reacted to election results. Except the fact that, Congress led Govt. will be more stable than before , every thing remains same. Global Economy, US crisis & other factors, all remains same as before, though a stable Govt. is a fundamental boost, still we need to be cautious.
Expect a flat/-ve opening.
Commodity Levels For 20/05/09: Click Here
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