May 3, 2011

NIFTY Support levels.

  • Nifty has multiple support at around 5620 - 5630 level.
  • 50 DMA near 5630 area and 38.2% Fib level @ 5620.
  • If bears are stronger they will manage to close below these levels. Then Nifty may start moving towards 5450 level.
  • Getting support at the above mentioned level can turn nifty towards 5750 level again. 
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