Nifty Updates for Monday 16 April 2012:-
The level of 5,335 appears as a very severe resistance for Nifty to cross, as every attempt to move past through this level is met with severe selling pressure. However Nifty has now support placed near 5,160 and below that 5,136 is absolute important level to watch out for. In coming few sessions if Nifty is unable to respect this range then we may see further decline till 5,050. On the higher side now the level of 5305 is most critical resistance for Nifty to cross if it has to move any higher. Intraday resistance for Nifty is placed in the range of 5,245 to 5,260.
Nifty is having resistance at 5,281 and 5,354 while the support is there at 5,159 and 5,111 levels.
The level of 5,335 appears as a very severe resistance for Nifty to cross, as every attempt to move past through this level is met with severe selling pressure. However Nifty has now support placed near 5,160 and below that 5,136 is absolute important level to watch out for. In coming few sessions if Nifty is unable to respect this range then we may see further decline till 5,050. On the higher side now the level of 5305 is most critical resistance for Nifty to cross if it has to move any higher. Intraday resistance for Nifty is placed in the range of 5,245 to 5,260.
Nifty is having resistance at 5,281 and 5,354 while the support is there at 5,159 and 5,111 levels.
