Wednesday, May 19, 2010

Going for another down move breaking 200 DMA before a bounce


Yesterday was a neutral day marked by Nifty testing the resistance of 5106 and falling back into range.

Accumulation was seen in near strike calls and unwinding in puts. A move to test 4950 levels in the short term is happening currently before Nifty can give another bounce back to 5100 levels for this series.


Resistance levels : 5094, 5106, 5128

Support levels : 5046, 5014, 4951


-Happy Trading

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