Intraday View For 09/11/11

Nifty: Resistance 5315/5333/5353/5385/5420
Support 5275/5255/5222/5205/5189

Nifty remained dull with a rangebound trade between 5280-5310. Nifty traded with no encouragement & closed below 5300 mark.
View remains same as before. Nifty today, may open again +ve with 25-30 pts in line with Asian market. Immediate strong resistance @ 5333, If nifty sustains this zone, then it may rally towards 5353 & above this stiff resistance @ 5385. If Nifty sustains this zone, it may further rally towards 5420-5450+ zone. Else, nifty may see profit booking setting back in. Intraday support @ 5275, sustaining blw tht, weakness can come. On lower side, 5222-5205 is acting perfect support zone, as written in previous posts. So, till its holding on closing basis, Nifty keeps hopes for bounce backs from dips.

Trade with levels.
Happy Trading.
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