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.
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