July 15, 2011

Intraday View For 15-07-11

Nifty: Resistance 5585-5597/5615/5630/5666/5697
Support 5555/5525/5495/5455/5415

Nifty had an extreme volatile session with move of over 100 pts. After gap down opening, Nifty witnessed gradual upmove & went pass 5650 but in last half hour witnessed profit booking & again steep fall came in, to close flat. Today, nifty may open marginal +ve in line with Asian market. Immediate resistance @ 5615... sustaining this range, Nifty has chance to move towards 5630-5666 zone. Closing above 5666, Nifty may see some more upside towards 5700+ zone. On lower side, 5555 offers strong support to Nifty. Breaking & sustaining below 5555 zone, Nifty can see 5525-5495 zone & lower in coming days.
Infra & Reality stocks looking good in coming days.
Trade with levels.
Happy Trading.
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