Wednesday, September 23, 2009

A bearish move today before bulls take it higher tomorrow ?!


Nifty again had a great up move yesterday and closed above 5000 levels.

Today there might be some consolidation or even a bearish move before bulls charge for tomorrow.

Right from 4500, all the puts till 5000 strike were written during this series and it now looks highly likely that even the 5000 puts could expire worthless.

There could be a move below 5000 levels today and even a close below that, but bulls could regain control and push it to above 5000 expiry tomorrow.

Resistance levels : 5030, 5041

Support levels : 4999, 4972, 4950

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Happy Trading
www.tripleint.com

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