Nifty has crossed the crucial level of 4950 and closed near the 5000 level which has turned the extreme short term view bullish.Next resistance on Nifty is 5015, if this crossed expect this run to continue till 5113.Today is generally positive with intraday volatility and the momentum on the upside above 5015 if crossed will be maintained.
LEVELS OF SPOT NIFTY FOR INTRA-DAY ON 11.10.2011
No trading zone between 4962 to 4997 to avoid whipsaws.
Buy above 4997 with SL of 4977 for targets of 5015 - 5033 - 5050- 5068
Sell below 4962 with SL of 4982 for targets of 4944 - 4927 - 4909- 4892
Happy Trading !
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