October 29, 2012

Intraday View For 29-10-12

Nifty: Resistance 5674/5710/5737/5767
           Support 5657/5630/5617/5595

Nifty after opening gap down tested lower support zone of 5630 [Low 5641], before recovering in last hour to close @ 5665. As written in last post, Nifty is stuck in 5630-5730 zone. Trend gets clear once this zone is broken. Today Nifty may open flat/-ve. Immediate resistance @ 5674, once sustained, Bulls will lookout for touching 5695-5715+ zone. On lower side, Intraday support is pegged @ 5657 & 5630. If lower zone of 5630 is held, Nifty is expected to show some bounce back. 

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