June 01, 2010

Intraday View For 02/06/10

Nifty: Resistance 4951-4963/4994-5005/5025/5050/5084
Support 4936/4910-4904/4882/4841-4832

As we were posting from past couple of sessions, Nifty cracked from higher resistance area. Intraday, Nifty may bounce back from current levels.... with immediate short term support @ 4904. On down side, below 4904... Nifty support @ 4882.. which if broken & sustained, may lead to further slip of 30-50 pts. On upside Nifty has immediate resistance @ 4963... which if sustained may lead to some relief rally. Expect flat / +ve opening in line with Asian market.

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