Monday, 5 December 2011

Outcome of Nifty & Bank Nifty for 2nd Dec


Clearly had mentioned in my earlier post of 4939 support, and also mentioned immediate resistance at 5017-5036 and sustenance above 5070 we can expect higher side. Verify the low was exactly 4939 and once crossed 5036, it rushed to the exact high of 5070 and then later again crossed that resistance and attempted a new high of 5094 in the last minute of trade.
Bank Nifty future had mentioned immediate resistance comes at 9025 and cross over with volume may move towards 9168-9215-9256 and also mentioned the support comes at 8906 and break below may pull it down to 8848. Verify it took support between 8848-8906 and then after crossing 9168 it rushed to almost the resistance of 9215-9256 levels.

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