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Tuesday, January 4, 2011

Technical View on Nifty Futures for 05th Jan. Wed.


Nifty future was volatile in last trading session and moved between tight range of 6200-6130. If it breaks 6100 level we can see some more correction in it. In upward if it manages 6200 level we can see up move till 6300 levels. Resistance for Nifty future is at 6241/6331 and support is at 6131/6068 levels.

RESISTANCE: It has first resistance close to the level of 6241 & above this level the next resistance is seen near the 6331 mark. 

SUPPORT: It has first support close to the level of 6131& below this level the next support is seen near 6068 mark.

Bank nifty future had a sharp down fall in last trading session, If it breaks 11570 level, we can see some more correction in it. One should adopt a strategy of sell at higher level. Resistance for Bank nifty is at 11735/11875 and support is at 11570/11455. 

RESISTANCE: It has first resistance close to the level of 11735 & above this level the next resistance is seen near the 11850 mark. 

SUPPORT: It has first support close to the level of 11570 & below this level the next support is seen near 11455 mark.  

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