Yesterday, I mentioned 5775 as the crucial level and break of that level could take Nifty towards 5850-5900 levels. But today it could not move past that level. And also it broke the intraday crucial level of 5710. As of now, it inspires, that Nifty is likely to test 5550, if 5775 is not broken in another 2 trading sessions.
Once again the level to watch is 5775 for tomorrow. And in the downside, the break of 5650 could confirm a decline towards 5550. Right now trading in the short side is advisable as long as Nifty trades below 5775.
Wednesday, January 19, 2011
Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 19 January 2011
Today, 5710 is the crucial intraday level for Nifty.If Nifty sustains below 5710, then it could test 5640 and below that level it could test 5550.
Instead, if Nifty trades above 5710, then it could test 5775.
Instead, if Nifty trades above 5710, then it could test 5775.
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