Technical View on Nifty and Sensex (30th July '10)
Technical View on Nifty (30th July '10)
Nifty witnessed an upside consolidation phase today. Overall it was high volatile session due to F & O expiry. Technically Nifty is still holding it's up trend & maintaining the upward rising channel on long time frame charts. In the downside it is getting the strong short term support close to the level of 5350. We recommend that traders may go for buy on dips in Nifty Future for the targets of 5450, 5500 in near run.
Technical View on Sensex (30th July '10)
Sensex was highly volatile for the whole day & in the end closed in marginal green. The immediate support for it seems to be at the level of 17850. Closing below this support may drag it till the lower levels of 17350 to 17400 in near run. Technically the overall trend of the Sensex is looking bullish & after some positive consolidation in the market we might expect fresh up rally.
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