Nifty Outlook for 15 march

Monday, March 14, 2011

Nifty crossed the 5500, a crucial level of resistance  decisively despite the disaster in Japan. This shows a inherent strength in Indian economy. Funds from Japanese quake sell-off might have entered on Indian bourses to give a little push which we see today. This might be short term in nature. A further 50-60 points up move which place Nifty to 5600 level can be viewed by traders as a profit booking level.

 30-min Nifty chart we can see a resistance level of 5550 and 5600 and having a supports at 5450 and 5400.

On on 5-min Nifty chart support levels come at 5500, 5480.

Nifty 2 minute chart (click on image to view large)

Nifty 5 minute chart

Nifty 30 minute char

Nifty daily chart
I don´t predict which may market will turn rather work on how it is moving.


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