Thursday, July 30, 2009

Bulls to regain control for the expiry !!


Bears had a good day yesterday and it looked like bulls were all too tired to push Nifty up further for the expiry.

But overall, bulls still seem to have a strong control for this expiry and the likely level of expiry is around 4560 or higher.

4527 has been established as a strong resistance and Nifty is unlikely to move up that level in the morning session and similarly 4474 level is a good support and Nifty is unlikely to fall below that also.

So it does look like Nifty will be hovering between 4474 and 4527 before bulls take control and charge it for a higher close.

Resistance levels : 4527, 4564, 4605

Support levels : 4475, 4444


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Happy Trading
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