October 20, 2010

Intraday View For 20/10/10

Nifty: Resistance 6060/6081/6104/6116/6136/6167
Support 6006/5990/5955-5945/5916

Nifty performed exactly as written yesterday... above 6136, Nifty went on to touch 6166.4 (resis given @ 6167) & saw massive crack from there. For today, keep watch on 6006-5990 as immediate support on nifty & 6081-6104 as resistance level.
Extreme View: Nifty has strong base support @ 5940... if it held, it can see some sharp upmove. Also if 5990 is held in immediate dip, Nifty may see good bounce back. IF this levels are not held, we may see further slide till 5815-5777.


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