September 20, 2011

Intraday View For 20/09/11

Nifty: Resistance 5050/5075/5115/5151
Support 5005-4990/4949-4937/4900

Nifty opened & remained in -ve zone through out the day. Though, nifty traded in just 20-25 pts range only for the maximum time of the day. Today, nifty may open flat/marginal +ve. Immediate intraday good support pegged @ 5005-4990 zone. Immediate resistance pegged @ 5050. Break & sustain of this zone, Nifty may touch 5075 & sustaining this level may take Nifty further to 5110+ zone. Below 5005-4990 nifty gets weak for more selling pressure. Overall, we may witness another range bound session until break of either side levels is seen.

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