Intraday View For 12-04-12

Nifty: Resistance 5255/5275/5315/5333

          Support 5222/5205/5195-5165

Nifty witnessed a lot of volatility in late trade. Nifty witnessed recovery in noon session, but soon slipped into red, after an earthquake of 8.6 magnitude struck Indonesia. Nifty held on to our given support zone @ 5205-5195 & bounced to almost 5300 zone. Today, Nifty may open +ve with 15-20 pts gain in line with Asian market. Nifty needs to sustain above 5275 [closing basis], to keep Bulls hope alive for more upside. Sustaining above 5275, Nifty may test 5315-5345+ zone in coming session. Nifty has immediate support @ 5222 & below it @ 5205-5195 zone. If managed to hold, Nifty may see some bounce backs. Break below & sustain below this zone, Nifty may see some more weakness.

Trade with levels.
Happy Trading.
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