August 21, 2009

Intraday View For 21/08/09

Nifty: Resistance 4504/4524/4555/4624
Support 4444-4440/4404/4374/4350

Nifty with the help of +ve global cues, opened gap up & traded max time in just 15-20 pt range of 4460-4480, though it broke important resistance range of 4484, but it lacked volume to maintain bullishness. For today again watch 4484, above it, if closed all shorts are advised to be hedged. We have uploaded a basic Nifty chart, with it, upcoming expected Nifty movement can be understood very easily, please refer to it. On downside keep eye on 4444-40, below it, Nifty gets weak for 4404-4374 level.
Expect flat/-ve opening,inline with Asian Market.

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