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Monday, November 22, 2010

Nifty Futures for Tuesday, 23rd Nov.

Nifty future traded in the range of 6057-5860 in the last two three trading session and has closed near the days high. Nifty future will face resistance at 6060 and 6150 levels. We recommend long position only above 6060 levels. Support for nifty future is at 5860/5800 levels and has resistance at 6060/6150 levels.
            
Resistance: Nifty future has first resistance close to the level of 6055 & after it may face the next resistance close to the level of 6101.
           
Support: Nifty has first support close to the level of 5935 & after it may get the next support close to the level of 5861.


Bank nifty future saw a sharp recovery from support near 12000 levels and has closed near the days high. we recommend long position only above 12450 levels. Support for bank nifty future is at 12290/12120 levels and has resistance at 12600/12750 levels.

Resistance levels: Bank Nifty has first resistance close to the level of 12548 & after it may face the next resistance close to the level of 12691.

Support: Bank nifty has first support close to the level of 12163 & after it may get the next support close to the level of 11921.

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