Wednesday, December 21, 2011

NIFTY VIEW DEC 21

Hi,

Today, while updating this SGX nifty is trading at 4655.
Today’s trading levels for Nifty Future:
Resistance: 4640-4670-4689-4702-4730
Support: 4531-4495-4480-4437
Now today, above yesterday’s high of 4640, NF will go up to 4670. Above 4670, there is a strong resistance zone of 4689-4700-4730. Bulls will need lots of power to cross this resistance zone but chances are very remote.
On lower side, yesterday’s low is crucial. Break below it with volumes will lead to panic selling.

In daily and weekly chart, NF is trading at lower end of Bollinger band.
.Regards,
ANALYSENIFTY TEAM

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