January 13, 2011

Intraday View For 13/01/11

Nifty: Resistance 5888/5905/5945/5999
Support 5840-5835/5777/5735/5702

Nifty had an extreme volatile session & ended 1.8% up, shrugging off poor IIP data. For today, Nifty may open flat. Immediate support @ 5840-35 range. If nifty sustains below this level, then it may witness further weakness till 5777 range. On higher side intraday resistance @ 5888-5905, above this , nifty may see 5945+ range.
On broader look, Nifty till holds 5702-5682 range [closing basis] now, keeps the chance to see 6000+ levels. Below this level only, Nifty turns further weak.

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