Nifty traded in this week between 4690-4778,crucial supports and resistances within this range are as follows:-
1- Support between 4590-4625(02-01-2012)
2- Resistance between 4765-4778(05-01-2012)
As soon as selling developed yesterday then it was updated at 11:29:00 AM yesterday and down moves were seen after that also.Nifty traded above 4730 in last 2 sessions but slipped below it because news based and weaker global cues based led down moves today.
Sudden fall in Euro led news fall in Indian and global markets and today intraday moves will depend on the continuation or reversion of these 2 news therefore sustaining below 4730 should be watched..
As intraday support seen at lower levels between 4688-4700 today therefore until Nifty will not slip below it till then next down move will not be considered.
1- Support between 4590-4625(02-01-2012)
2- Resistance between 4765-4778(05-01-2012)
As soon as selling developed yesterday then it was updated at 11:29:00 AM yesterday and down moves were seen after that also.Nifty traded above 4730 in last 2 sessions but slipped below it because news based and weaker global cues based led down moves today.
Sudden fall in Euro led news fall in Indian and global markets and today intraday moves will depend on the continuation or reversion of these 2 news therefore sustaining below 4730 should be watched..
As intraday support seen at lower levels between 4688-4700 today therefore until Nifty will not slip below it till then next down move will not be considered.