Wednesday, September 2, 2009

Markets to stabilize and consolidate at these levels ?!


Nifty made another attempt in scaling new heights yesterday, but then succumbed to gravity to test the key support level of 4605.

It is likely to test 4580, 4557 levels, but not beyond that and also most likely to consolidate without a big sell off.

Any move that breaks 4537 levels from where this entire up move emerged, will impart extreme bearishness which is unlikely to happen.

Resistance levels : 4636, 4665, 4696

Support levels : 4580, 4557, 4537

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Happy Trading
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