May 30, 2011

Intraday View For 30-5-11

Nifty: Resistance 5495/5510/5525/5555/5597/5615
Support 5455/5420/5385/5351/5315

Nifty continued its upward journey on back of short covering.Today, Nifty may open gap up in line with Asian market. Immediate resistance @ 5495. If sustains above this zone, Nifty may see further upside till 5525 & above this 5555 is possible range. On lower side, Nifty has strong support @ 5455, breaching this support, Nifty may see some slide till 5420-5400 range.
Overall, we may see some +ve moves till resis before fresh selling.

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