NIFTY FUTURE OUTLOOK 04-05-2011
We had written in our weekly outlook on the possibility of nifty getting hammered this week.
This was exactly what happened yesterday as nifty crashed by 2.7%.
For today's trading nifty future will have supports at 5545, 5520.
Reversal from these levels will take nifty to 5585, 5625 and 5650.
Break above 5680 is needed for nifty to turn bullish.
Break below 5500 will lead to 5460 which looks like the ultimate target for this down move.
We had written in our weekly outlook on the possibility of nifty getting hammered this week.
This was exactly what happened yesterday as nifty crashed by 2.7%.
For today's trading nifty future will have supports at 5545, 5520.
Reversal from these levels will take nifty to 5585, 5625 and 5650.
Break above 5680 is needed for nifty to turn bullish.
Break below 5500 will lead to 5460 which looks like the ultimate target for this down move.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss
