Support:- 5382.91, 5316.18, 5258.71
Resistance:- 5507.11, 5564.58, 5631.31
Break - Even Point :- 5440.38
Positive If above and maintains 5440.38
As I had said yesterday that NIFTY Spot on 5 days Chart is looking positive, if maintains above 5536 - 5550 then can go up to 5604. Those who are looking for 5600 and have taken long position @ above 5440, please carry a Strict Stop Loss 5485 - 5500 (according to Risk Level).
So what the Stop Loss I had suggested, NIFTY Spot broke it but not broke the 3rd Support 5361.68 suggested yesterday. So If NIFTY Spot breaks 5361.68 then go up to 5300 - 5285. So If anyone who has taken long position at this level carry a Stop Loss of 5361.68. If anyone who has taken Short Position also from the current level carry a Stop Loss of 5536.
For tomorrow on 16 March 2011 If Nifty Spot maintains 5440 then it will be positive and from upside it will face the resistance at 5500 - 5510.
Right now Japan as well as Japan's Market are playing a major role to decide the direction of the market at global level. As per as FIIs concern accept Japan's FIIs others have bullish view on market, but because of major happening in Japan. Japanese Investor are redeeming their investment form all the markets including Equity Market, Commodity Market Specially from Gold, Silver and Crude Oil. So these things can create panic for short term but I am expecting NIFTY Spot will not break 5300 in any situation by this month. For Crude Oil Concerns it is getting down on continuously basis and will also play a positive factor for market in future. Today on 15 March 2011 Crude Oil is trading at 97.25$ and expected to go 94.35$.
Resistance:- 5507.11, 5564.58, 5631.31
Break - Even Point :- 5440.38
Positive If above and maintains 5440.38
As I had said yesterday that NIFTY Spot on 5 days Chart is looking positive, if maintains above 5536 - 5550 then can go up to 5604. Those who are looking for 5600 and have taken long position @ above 5440, please carry a Strict Stop Loss 5485 - 5500 (according to Risk Level).
So what the Stop Loss I had suggested, NIFTY Spot broke it but not broke the 3rd Support 5361.68 suggested yesterday. So If NIFTY Spot breaks 5361.68 then go up to 5300 - 5285. So If anyone who has taken long position at this level carry a Stop Loss of 5361.68. If anyone who has taken Short Position also from the current level carry a Stop Loss of 5536.
For tomorrow on 16 March 2011 If Nifty Spot maintains 5440 then it will be positive and from upside it will face the resistance at 5500 - 5510.
Right now Japan as well as Japan's Market are playing a major role to decide the direction of the market at global level. As per as FIIs concern accept Japan's FIIs others have bullish view on market, but because of major happening in Japan. Japanese Investor are redeeming their investment form all the markets including Equity Market, Commodity Market Specially from Gold, Silver and Crude Oil. So these things can create panic for short term but I am expecting NIFTY Spot will not break 5300 in any situation by this month. For Crude Oil Concerns it is getting down on continuously basis and will also play a positive factor for market in future. Today on 15 March 2011 Crude Oil is trading at 97.25$ and expected to go 94.35$.
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