Tuesday, July 14, 2009

Nifty to see the expected bounce today !!


After testing 4000 levels, the view is maintained that Nifty can give a strong bounce anytime and it looks like today is the day.

SGX Nifty is already at 4020 levels at the time of writing this and a gap up above 4000 levels would have immediately trapped all the bears of yesterday's session and a rise today is expected to see an allround short cover to happen.

It looks like the up move if sustained today up to 4117 levels, could see Nifty moving to 4222 by tomorrow.

Resistance levels : 4045, 4085, 4117

Support levels : 3966, 3930

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