Wednesday, February 23, 2011

NIFTY LEVELS FOR TODAY 23rd feb


FREE NIFTY SUPPORT AND RESISTANCE TODAY


Nifty was on bear trend yesterday and closed at 5469 .Today the first resistance for nifty is at 5491-94 level.Next resistance is at 5520-25 level.
If NIFTY breaches 5515 and stays above at least 5492 with good volume then NIFTY may see 5535 and 5575.If Nifty breaches 5424 and stays below 5447 then NIFTY is weak.Then expected lower targets are 5400 and 5370.
On downside first support is at 5446-42 level.Next support at 5423-19 level.
So today better no long below 5500 and below 5440 trend can change to negative side and more bearishness below 5420.Positionally 5400 will be good support for relief rally and main barrier will be at 5555 level.
NIFTY PROBABLE HIGH                         NIFTY PROBABLE LOW
5548                                                                 5417
5515                                                                 5450
LEVEL FOR LONG                                      LEVEL FOR SHORT
5548                                                                 5431
LAST DAY                                                    BEAR
OPEN                                                              5504
HIGH                                                              5519.0
LOW                                                               5437.0
CLOSE                                                           5469.2
NIFTY DAILY VOLATALITY                             1.51%
NIFTY WEEKLY VOLATALITY                         3.44%
NIFTY WEEKLY HIGH                                    5599.0
NIFTY WEEKLY LOW                                     5413.0
NIFTY DAY MEAN                                          5506

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