February 16, 2011

Intraday View For 16-02-11

Nifty: Resistance 5495-5525-5545-5555-5597
Support 5444-5420-5385-5353-5333

Nifty extended gains to 3rd straight day with volatile session. Today, nifty may open flat & may see some volatile session in first half session. Immediate resistance @ 5525 & 5555, if these levels are sustaines & crossed, then we may see some more extended upside till 5597++ zone. On lower side, below 5444 booking may set in. Over all, we may expect some booking pressure at higher levels around above mentioned resistance area & a rangebound session may be seen if either side levels are not breached with volumes.

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