On the lower side Nifty has good support at 4940 - 4930 level as I have already mentioned in the 18th Sep Pre-Market Analysis. Nifty took support from 4940 levels on last Friday. If 4940 level are broken then Nifty may show some weakness.
Tuesday, September 22, 2009
Nifty Technical Analysis For 22nd Sep 09
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Nifty Chart - Hourly:
On the higher side Nifty may move up to 4996 level, above which it may reach up to 5050 levels. I have mentioned earlier Nifty formed Bullish Gartley in 5 min time frame which is indicating some strength to the market. 50% of the holding was closed in intraday (on friday) and stop loss for remaining 50% may be kept at 4938 level.
On the lower side Nifty has good support at 4940 - 4930 level as I have already mentioned in the 18th Sep Pre-Market Analysis. Nifty took support from 4940 levels on last Friday. If 4940 level are broken then Nifty may show some weakness.
On the lower side Nifty has good support at 4940 - 4930 level as I have already mentioned in the 18th Sep Pre-Market Analysis. Nifty took support from 4940 levels on last Friday. If 4940 level are broken then Nifty may show some weakness.
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