February 17, 2011

Intraday View For 17-02-11

Nifty: Resistance 5495-5525-5545-5555-5597
Support 5454-5444-5420-5385-5353-5333

Nifty traded quiet for whole trading session & closed flat note despite positive global cues.Nifty as expected remained in a tight range of 5465-5495 for max time of the day. Nifty may open +ve today with 15-20 pts gain.
Immediate resistance @ 5525 & 5555, if these levels are sustained & crossed, then we may see some more extended upside till 5597++ zone. On lower side, below 5454 booking may set in.
Over all again we may see some rangebound trades in initial trading hour.
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