The next short term crucial level in Nifty is 6240. Nifty May try to test that level in coming trading sessions. In case, if it fails to test that level, then immediately a sharp correction towards 6050 is likely in coming trading sessions.
Positional Traders can initiate shorts if Nifty fails to clear 6240 level. Instead, a move past 6240 could impart short term bullishness towards 6350.
As of now, Nifty is trading below it's crucial level of 6240. Short positions are advised with a stop at 6240 in Nifty spot.
Readers are invited to post their view on nifty in the comments section.
Wednesday, January 05, 2011
Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 5 January 2011
Today, 6150 is the crucial intraday level for Nifty.If Nifty sustains below 6150, then it could test 6100 and below that level it could test 6060.
Instead, if Nifty trades above 6150, then it could test 6190.
Instead, if Nifty trades above 6150, then it could test 6190.
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