[intradaycalls] Ultimate Analysis on NIFTY Future (25th May, 2011)

NIFTY Performed on Tuesday

Nifty for Tomorrow 24 May :- Tomorrow, 24 May, Spot Nifty should open and sustain at least above 5386 in the opening bell. Nifty hurdle is at 5390. Spot Nifty will face the first strong resistance at 5405 level. If Spot Nifty can able to cross 5405 within the first hour of the opening bell, the it can go up to 5440-5460 levels. 5460 is a strong resistance above which spot nifty can maximum go up to 5490-5520 levels. Otherwise, if spot nifty could not sustain 5386 in the opening bell, then profit booking can bring the spot nifty down sharply up to 5370-5350 levels. Breaking of 5350, panic selling may pull the spot nifty down up to 5320-5300-5270 levels.

Positional Trend with Levels

(Updated on 24-5-2011)

Buying Zone 5370-5490

(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 (24-05-2011) [email protected] (+8 POINTS)

LAST [email protected] [email protected]

WEEKLY [email protected] [email protected]

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What for Today…?

Nifty expected consolidation between 5336- 5430…!

Support at 5378-5349

(This support can force to nifty to test 5458-5463)

Just watch 5349

(Break 5349 below with volume and stay for 5-10minitues …then Panic fall expected 5311-5324 )

Note: Trading is not good due to this consolidation range.

(Best for buy is only above 5430 closing base)

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