NIFTY Performed on Wednesday:
Market has recovered early gains after the fall in early part of series and has been consolidating in the range of 5380-5500 for the past couple of treading session. Today pre-opening session has started positive for the market and sensex is trading at 18435, up 424 points and Nifty is at 5422, up 27 points.
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 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) Closes@5394 (+8 points)
Last high@5422 low@5367
Weekly high@5541 low@5367
5DMA@5423
20DMA@5546
50DMA@5638
200DMA@5755
5-DAY RSI 33 AND 14-DAY RSI 37
Prediction of MoneyMunch.com Intraday
What for Today
(Disclosure: Yes My Subscribers and Yahoo group Members, Yesterday NIFTY future bought 5340-5349 and waiting for targets 5397-5428 with Stop loss 5330)
Nifty will be Green in 48hrs…!
Just, watch support 5311-5340
Short Term Targets of NIFTY Future 5445-5467 and 5531-5579
(Keep Patience; if you don’t it…then don’t trade)
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