Nifty Futures Support and Resistance Levels – January 28, 2011

The support prices for this day are 5507.80, 5468.80, 5429.70 and 5390.60.

Resistance is seen at 5742.20, 5781.25, 5820.30 and 5859.40 levels.

I do realize that the market may / may not touch these values today. Looking by the manners with which the Indian markets are dwindling, it seems that I need to wait for a couple of more days to recoup the losses sustained yesterday .. 😦

Update: I waited until the contract touched 5507.80 levels and entered long at that price. Stop loss was 5468.80. The day ended profitably as the closing price was in the range of 5540 – 5550. 🙂


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