Nifty has breached the 5900 in the downside and this level is going to play a crucial part for the short term. If Nifty sustains below 5900 for another 3 trading, then the short term trend of the market would remain bearish till it tests 5550.
On the other hand, any bounce has to come from this levels. The first indication of bullishness would be the crossover of 5950 in coming trading sessions. Otherwise, as of now, the trend remains weak for the short term.
Monday, January 10, 2011
Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 10 January 2011
Today, 5835 is the crucial intraday level for Nifty.If Nifty sustains below 5835, then it could test 5790 and below that level it could test 5690.
Instead, if Nifty trades above 5835, then it could test 5900.
Instead, if Nifty trades above 5835, then it could test 5900.
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