Nifty Short term Technical Outlook and View, 19 November 2010

The level 5900 is crucial for Nifty in the short term. If that level is broken, then the correction is likely to extend towards 5550 in the short term. Instead, If it fails to move below 5900, then a short term rally towards 6200 is likely.

Positional traders can trade short below 5900 and trade long above 5900.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 19 November 2010

Today, 6040 is the crucial intraday level for Nifty.

If Nifty sustains below 6040, then it could test 5970 and below that level it could test 5930.
Instead, if Nifty trades above 6040, then it could test 6090.