Nifty was earlier resisted at 5113(45 degrees).Yesterday we made a high of 5154.50 but closed below 5141(90 degrees).Now we have resistance at 5185(135 degrees), 5221(180 degrees),5257(225 degrees),5293(270 degrees),5321(315 degrees) and 5366(360 or 0 degreees).Its important that we closed above 5113(45 degrees).We need to take out 5185 upto Monday 12/09/2011 to keep the momentum going.Incidentally 5185 is an important target for this series where we could end our rise if we fail to close above it .Positional traders who entered in the correction from 5113 to 4943 can book profits between 5143 to 5185 levels as and when it comes to enter again above 5185 if sustained.
Levels to watch on Spot Nifty :
No trading zone between 5107 to 5143 to avoid whipsaws.
Buy above 5143 with SL of 5128 for targets of 5161 - 5178 - 5196- 5222
Sell below 5107 with SL of 5122 for targets of 5089 - 5071 - 5053 - 5028
Happy Trading !
No trading zone between 5107 to 5143 to avoid whipsaws.
Buy above 5143 with SL of 5128 for targets of 5161 - 5178 - 5196- 5222
Sell below 5107 with SL of 5122 for targets of 5089 - 5071 - 5053 - 5028
Happy Trading !
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