November 10, 2009

Intraday View For 10/11/09

Nifty: Resistance 4917/4949/4968/4994/5003/5020
            Support  4884/4866/4841/4816/4790

As wrote yesterday Nifty after breaking our resistance zone, rallied to cross 4900 mark helped by strong global sentiments. We have been already writing from past few sessions that not to short at lower levels. Now Nifty is again nearing critical resistance zone. So we would advice all to hedge/light your leverage longs & be cautious till Nifty cross/close above 5050 for 2 sessions. For intraday, expect gap up opening with 25-35 Pts on Nifty & immediate resistance @ 4949 & Support @ 4884 on downside.
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