Thursday, June 11, 2009

Nifty likely to test further highs today!!


The three day pattern indicates extreme bullishness and NIFTY moved in line with the expectation after the powerful piercining line pattern made in the previous session.

Any break of 4688, today will push NIFTY to test 4746 levels and at present the strong resistance level is at 4794.

4630 is a good support level and NIFTY is unlikely to break below that level for the upward move to continue.

Resistance levels : 4688, 4746, 4794

Support levels : 4630, 4585, 4550

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Happy Trading
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