NIFTY Performed on Friday:
On Friday(20-5-11)Nifty opened at 5454 with a gain of 26 points, moved down to 5433, moved up to 5518, moved down to 5480 and closed at 5486 with a gain of 58 points, in M2(above 5464). Next level is 5555. Nifty futures range was 5429 – 5522, having a difference of 93 points.
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 (20/05) Closed@5486 (+58 points)
Last high@5517 low@5432
Weekly high@5605 low@5401
5-DAY RSI 48 AND 14-DAY RSI 42
US dollar index recover from 73 now at 75.43.
NYMEX crude is hovering at 100 now at 99.91.
Dow future is trading 95point Red.
Red trend seen…
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 stop loss 5429 and Read below msg…!
What for Today…?
Selling pressure expected – 5515 and 5542
After breaking this support, nifty can slide up to 5428-5443
Suppose to see Gap up opening and trading 5470 above…Panic Targets expected 5580-5593 (Note down, Nifty must be cross 5442 above without break 5470)
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