Nifty has closed at 5140 yesterday with strong pull back rally. After the eight trading session nifty succeeded to close above 5100 levels due to heavy short-covering in large -caps stocks. Now nifty may face resistance at 5180 levels. Referring to daily chart nifty has strongest resistance at 5235 levels, A 50 day moving average line and a gap down opening oval showing in the chart at this area. Market may consolidate after touching these levels. Index option data showing 5000 as a strong support for the nifty in short term. 5300 strike rate call can be short today with strict stop- loss.
Wednesday, September 21, 2011
NIFTY HAS STRONG RESISTANCE AT 5180 AND 5235 LEVEL
Posted by rinku saluja at 7:58 AM