February 22, 2012

Intraday View For 22/02/12

Nifty: Resistance 5639/5666/5696
Support 5617/5577/5555/5525

Nifty remained firm +ve throughout the day. Nifty upmove was aided by RIL 3% gain. Today, Nifty may open flat in line with Asian market. Resistance now pegged @ 5639. If sustained above this zone, nifty may try to move further towards 5666 & then towards ultimate zone of 5700 mark. On down side, Nifty has support @ 5577, below it, further good support @ 5555, if breaks & sustains below it, Nifty may see some more selling pressure setting in & a slide towards 5525-5495 can be seen.

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