NIFTY Performed on Wednesday:
Markets edged higher in the afternoon session and ended the day on a positive note after engineering conglomerate L&T (Larsen & Tourbo) reported 17% rise in the fourth quarter profit. The S&P CNX Nifty ended at 5,428.10, up 7.50 points or 0.14 %.
The Nifty futures closed and settled finally at 5424.80, up by 0.75 points or 0.01 %.
Positional Trend with Levels
(Updated on 20-5-2011)
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 (19/05) close@5428 (+8 points)
Last high@5452 low@5411
Weekly high@5605 low@5401
5DMA@5466
20DMA@5614
50DMA@5644
200DMA@5756
5-DAY RSI 28 AND 14-DAY RSI 36.
Prediction of MoneyMunch.com Intraday
Refresh your memory…?
On Friday, We sold NIFTY Future 5611-5629…! And Given Targets 5476 to subscribers and yahoo Group me.
Target achieved on Tuesday with Touched 5422
Yes, you can still hold with stoploss 5429 and Read below msg…!
What for Today…?
Hurdle at 5441 level. If Bulls can able to get past this level, then expect short covering up to 5465-5467 zone and thereafter expect a jump up to 5490-5492 zone by non-stop.
Multiple Support at 5410-5412 zone & at 5414 level. Bulls will not allow Bears to dominate below these levels. If broken, then selling may continue up to 5404 level and thereafter slide may continue up to 5386-5388 zone by non-stop.
Below 5377-5379 zone, expect panic up to 5353-5355 zone by non-stop.
On Positive Side, cross above 5498-5500 zone can take it up to 5523-5525 zone by non-stop. Best Oppurtunity for Bulls to Offload their positions and have caution. To become a subscriber, subscribe to our free newsletter services.
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