Wednesday, January 13, 2010

Nifty trying to breakout of the tight range. A test of 5145 and a strong bounce ?!


Yesterday markets failed to sustain to 5225 levels and broke it towards the end. This has given bears a slight upperhand for the shorter term.

Now there is all the more chance of bears to push markets to 5145 levels in the near term and bulls are expected to charge from those levels. 

The volume PCR is back to 1.04, indicating almost equal activity happening in puts and calls. 

Resistance levels : 5225, 5250, 5268


Support levels : 5201, 5187, 5169


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Happy Trading
www.tripleint.com

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