Monday, May 31, 2010

Range bound around 5050 levels to continue for a while


On friday markets yo-yo ed around 5050 levels and also closed higher above the 20 DMA level of 5051.

Pattern and option data is suggesting a range bound move around 5050 levels with a swing of 50 points either side for some more sessions before Nifty can make another move either direction.


Resistance levels : 5094, 5126

Support levels : 5036, 5003


-Happy Trading

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