Friday, July 3, 2009

Swinging in range and not moving either side..Will a breakout happen soon ?!


It was another day where NIFTY gave wild swings in both direction. A decisive trend is not getting established and the view remains the same with a bearish bias.

It is again prudent to wait for a breakout either side, now that the range has become tight, a breakout involves moving out of 4407 and 4250.

Below 4306, we can see some weakness to set in today.

Resistance levels : 4367, 4382, 4407

Support levels : 4306, 4283, 4251, 4222


-
Happy Trading
www.tripleint.com

No comments: