Nifty Intraday Analysis for January 18, 2011


5664.00 is a major resistance / support point for Nifty tomorrow. If it manages to slice through this point, the next (major) resistance point is at 5693.35 followed by 5703.10, 5712.90 and 5722.65.

On the other hand, if it does not rise up to 5664.00 (or if it falls down and crosses this point in a downward fashion), then support levels are seen at 5634.80 followed by 5625, 5615.20 and 5605.50.

Today’s range was tight. Hence, do not be surprised if the index touches any one of these values and try to reverse back to 5664.00 tomorrow.

I have noticed that many are frequenting the blog but fail to post any comments. I can list the values for bank nifty or nifty futures – on request. Please furnish me with details such as the previous day’s high, low and closing price of the instrument. 🙂

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