I expect NIFTY SPOT to trade rangebound. New series started with light OI indicating traders are not confident about further up move. NIFTY SPOT will face R 5410-5420, 5440-50. I will prefer to watch 5440-50 levels for further up move. Failed to cross these levels will attract fresh shorts in market. On contrary sustainable up move above these levels will open door for fresh up move which looks difficult in current situation. On up side, NIFTY SPOT strong R 5480-90. NIFTY SPOT will take S 5280-90. Break below 5270 levels will warn about possible correction. NIFTY SPOT strong S 5220-30 for next week. Stock specific action will remain in market.
Sunday, June 20, 2010
21-06-2010, CURRENT TREND IN NIFTY
. NIFTY SPOT HURDLE / STRONG RESISTANCE AT 5330 THERE CAN BE DOWN SWING OF 100-150 POINTS FROM 5330 LEVELS IF FAIL TO SUSTAIN / CLOSE ABOVE.
CLOSE ABOVE 5330 THEN WILL SWING FOR NEXT TARGET OF 5455
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