Nifty: Resistance 5415/5444/5477/5495
Support 5385/5350/5330/5310
Nifty edged lower after IIP data showed decline in production growth in December 2011. Alot of volatility was seen during the day. Nifty after opening gap up, failed to hold the higher levels & fresh low was hit, though short covering was seen @ end of session. Today, Nifty may open flat in line with Asian market. Immediate resistance @ 5415, if sustained, nifty may see some more upmove towards resistance zone of 5444. On lower side, Nifty has support @ 5385, if breaks, can expect fall towards 5350-5330 zone. Till holding, dips are ok for bouncebacks. If Nifty breaks below it, expect some selling pressure to build in & take nifty towards 5250-5210 zone.
Till this either side, levels are holding, expect a volatile session in this range only.
Trade with levels.
Happy Trading.
For any query, be online at our chatroom.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment