October 20, 2011

Nifty intraday Update

  • Nifty hour 50 and 20 Hour has given a bearish cross.
  • Pull backs from here may not sustain at higher levels.
  • The marked support levels may save bulls from deeper correction for the day.


  1. one day nifty closes on bearish terms while other on bullish. Now 5000 is key level to watch.closing below it would signify end of corrective rally from 4750 levels & nifty may resume its downtrend. But at same time what happens in Eurozone is most important. Better to watch it and then decide the trade.

  2. Thanks a lot San for mentioning the respective SMA/EMA values