Nifty and Sensex – Support and Resistance (29th July '10)
Nifty – Support and Resistance (29th July '10)
Nifty witnessed a profit booking on higher levels & in the end closed in the red zone. In the lower side it is having the crucial short term support around the level of 5350. Closing below this support may slip it till the lower levels of 5290 to 5300 in near run. Technically nifty future is still looking bullish and after some consolidation phase in the market we might expect one more upward rally in it. For intra day trading we recommend that traders may go for buy on dips in it until it close below 5350 for the targets of 5450,5500 in near term.
Technical View on Sensex (29th July '10)
Sensex witnessed a correction from the higher levels & in the end of the day closed below the level of 18000. The next support for Sensex seems to be at the level close to 17850. Closing below this support may slip it till the lower levels of 17350 to 17400 in near run.
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