November 18, 2010

Intraday View For 18/11/10

Nifty: Resistance 6007/6036/6060/6096/6108
Support 5980/5950-45/5930/5918/5888

Nifty witnessed sell off on back of weak global cues. Expect some smart bounce back from lower levels. Strong intraday support pegged @ 5980, which is expected to held. On lower side, 5950-30 range will give cushion to this fall... so traders are advised to avoid shorting at lower levels around this support zone. On upside, tough resistance @ 6060, If Nifty cross & sustains this zone, then it may show some more bounce back till 6100+ zone.

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