NIFTY Performed on Monday:
Nifty Index shut up at 5387, also down with 100 points, The index touched a high and a low of 18,269.06 and 17,971.02 respectively.
Positional Trend with Levels
Buying Zone 5370-5390
(This zone is trend changer which can lead to nifty up direction for positional, mean this support is able to move NIFTY 5578 above for shortly)
After the crossing 5600…NIFTY will enter into the bullish zone for targets 5755-5811 in 1-3 months only)
Just, Concentrate on Closing or Breaking…!
Breaking of this support is not dangerous for long term investor because next support available for to move up for Nifty to move up… which is between 5240-5278!
Yes, Short term trade can take short position after breaking 5370 for targets 5300-5278…?
Technical Data-Sheet on NIFTY:
Last (23/05/2011) close@5386 (-100 points)
Last high@5456 low@5373
Weekly high@5541 low@5373
5DMA@5432
20DMA@5570
50DMA@5640
200DMA@5755
5-DAY RSI 30 AND 14-DAY RSI 36.
What for today?
As per our prediction of yesterday, Nifty fut has taking Strong Resistance on last Friday at 5522 and started fall…
Now NIFTY trend is look down…!
Resistance 5393-5405
(At this resistance pressure will come and after breaking 5375 support, Nifty future can spoil more to 5344-5324)
Hurdles at 5413-5427 level, bears will not able to cross this level, if cross this level it may be cross 5437-5445, after crossing it may be break 5450-5469 zone by nonstop.
Hey… Buying Zone 5370-5390…read above message…!
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