Market Bulish
The
Nifty ended in the positive today with a gain of 63 points while the Sensex
surged 209 points.
On the
daily chart the Nifty has resistance around its 40 day moving average (DMA) ie
at 5144. As and when it sustains itself above this average, it should rally for
our medium term target.
On the
daily chart the Nifty is trading below its 20 DMA and 40 DMA ie 4976 and 5144
respectively.
Nifty Future Levels for 16/9/2011
Scrip Name
|
Support Levels
|
Close
CMP (Rs)
|
Resistance Levels
|
Action
|
||
S2
|
S1
|
R1
|
R2
|
|||
NIFTY Futures
|
5005.0
|
5050.0
|
5098.0
|
5150.0
|
5194.0
|
Go Long Above R1
|
BANK Nifty Future Levels for 16/9/2011
Scrip Name
|
Support Levels
|
Close
CMP (Rs)
|
Resistance Levels
|
Action
|
||
S2
|
S1
|
R1
|
R2
|
|||
BANK NIFTY Futures
|
9405.0
|
9560.0
|
9725.0
|
9866.0
|
10105.0
|
Go Long Above R1
|
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