Nifty Intraday Analysis for January 17, 2011

According to my calculations, 5781.25 is a major resistance point for Monday. There is a high probability for the nifty to play below this level on that day. If ever it breaches this resistance point (and rises), the next resistance is seen around 5898.45, 5937.50, 5976.25 and 6015.60 points.

If the nifty falls, there are support levels at 5664, 5625, 5585.95 and 5546.90. The prices will touch these points and try to revert back to 5781.25.

Please bear in mind that this comment is applicable only for Monday.

The market has a geometry. I have calculated these values adhering to those principles. Let us see how it is faring on Monday!



About Praveen Pious Francis
A part-time blogger who has a wide range of interests including investing in the stock markets across the globe and broadband technologies in India.

One Response to Nifty Intraday Analysis for January 17, 2011

  1. Pingback: Trading Report January 17, 2010 « Ardours of a Technology Enthusiast – Praveen Pious Francis

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