Nifty – Support and Resistance (6th August '10)
Nifty – Support and Resistance (6th August '10)
Nifty continued the upward rally today and made a high of 5480. Overall it was a highly volatile session. Technically market is looking well set to break the level of 5500 in near time. Decisive closing above 5500 may lead it towards the levels of 5600 to 5610 in near run. In the downside the intraday support seems to be around the levels of 5400 to 5405. Closing below this support range may make it slip till the lower levels of 5350 to 5355 in near run. For trading we already mention in our previous reports that every dip in nifty future is the buying opportunity until it close below 5350, the next targets in it seems to be at the level of 5500,5550 in near run.
Technical View on Sensex
Sensex reached close to the level of 18300, as we already mention in our previous report that it might face the next resistance in the zone of 18300 to 18350. Decisive closing above this resistance zone may head up it till the level of 18800 in near run. in the downside the immediate support for it seems to be in the levels of 18000 to 18025. After this it may get the next support close to the levels of 17820 to 17850.
Nifty continued the upward rally today and made a high of 5480. Overall it was a highly volatile session. Technically market is looking well set to break the level of 5500 in near time. Decisive closing above 5500 may lead it towards the levels of 5600 to 5610 in near run. In the downside the intraday support seems to be around the levels of 5400 to 5405. Closing below this support range may make it slip till the lower levels of 5350 to 5355 in near run. For trading we already mention in our previous reports that every dip in nifty future is the buying opportunity until it close below 5350, the next targets in it seems to be at the level of 5500,5550 in near run.
Technical View on Sensex
Sensex reached close to the level of 18300, as we already mention in our previous report that it might face the next resistance in the zone of 18300 to 18350. Decisive closing above this resistance zone may head up it till the level of 18800 in near run. in the downside the immediate support for it seems to be in the levels of 18000 to 18025. After this it may get the next support close to the levels of 17820 to 17850.
Technical View on Nifty and Sensex (3rd August '10)
Nifty – Support and Resistance (3rd August '10)
Nifty bounced from the support levels & in the end made a strong closing, as we already mention in our previous report that one may go for buy on dips in Nifty Futures until it close below 5350 for the targets of 5410,5440, today market achieved it. Now technically Nifty Futures is looking strong & have the next key resistance close to the level of 5500 to 5510. Decisive closing above this resistance range may take up it till the levels of 5600 to 5610 in near run. In the lower side the crucial short term support seems to be in the range of 5350 to 5370.
Technical View on Sensex (3rd August '10)
Sensex get the good buying support again close to the levels of 17825 to 17860 this zone be come the crucial short term support zone for the Sensex. the next key resistance zone for the Sensex seems to be at the levels of 18320 to 18350. decisive closing above this resistance zone may guide it towards the levels of 18800 to 18850 in near run.
Nifty bounced from the support levels & in the end made a strong closing, as we already mention in our previous report that one may go for buy on dips in Nifty Futures until it close below 5350 for the targets of 5410,5440, today market achieved it. Now technically Nifty Futures is looking strong & have the next key resistance close to the level of 5500 to 5510. Decisive closing above this resistance range may take up it till the levels of 5600 to 5610 in near run. In the lower side the crucial short term support seems to be in the range of 5350 to 5370.
Technical View on Sensex (3rd August '10)
Sensex get the good buying support again close to the levels of 17825 to 17860 this zone be come the crucial short term support zone for the Sensex. the next key resistance zone for the Sensex seems to be at the levels of 18320 to 18350. decisive closing above this resistance zone may guide it towards the levels of 18800 to 18850 in near run.
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