Technical Overview on Nifty (23rd September '10)
Nifty witnessed an upside consolidation phase today and in the end made a closing in the red zone. The next technical resistance for nifty future seems close to the levels of 6050 to 6060. Decisive closing above this resistance zone may lead nifty future for the level of 6155 to 6180 in near run. The immediate support for nifty future seems close to the level of 5950. Closing below this support may make it slip till the levels of 5900 to 5905 in near run. For intraday trading we recommend long position in nifty future from the current levels with the stop loss around 5950 for the target of 6150 in near run.
Technical Overview on Bank Nifty (23rd September '10)
Bank Nifty Future is holding the upper levels and today made strong recovery after small corrections and in the end made closing in the green zone. Now the next technical resistance for bank nifty future seems close to the levels of 12360 to 12365. Decisive closing above this resistance zone may take it up to the level of 12500 in near run. The immediate support for bank nifty future seems close to the level of 12150. Decisive closing below this support may slip it till the levels of 12090 to 12100 in near run.
Technical Overview on Sensex (23rd September '10)
Sensex witnessed some correction from the upper levels and in the end made closing in the red zone. Now the next technical resistance for sensex seems to be in the zone of 20200 to 20250. Decisive closing above this resistance zone may further take it up till the levels of 20400 to 20425 in near run. In the downside the immediate support for sensex seems close to the level of 19790 to 19800. Closing below this support zone may make it slip till the levels of 19635 to 19640 in near run.
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