On an intraday basis, Nifty spot should find (PIVOT) support near 5,420 & 5,393 level while the resistance will be at 5,468 & 5,495 level. The Sensex should find supports at 17,850 and 17,780 and resistances at 18,180 and 18,364.
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It was a cheerful day for the Indian market which, pushed by strong European cues, and gave a new 30-month high closing for the Nifty, since February 2008. Finally, Nifty spot manage to break above the crucial 5,420 level indicating positive bias here. Bullish breakout with rise in volume also suggests strength in the market. Breakout above 5,420 level in Nifty spot should lead Nifty towards the next resistance of 5,485- 5,500 level while a breach below 5,420 will drag Nifty again to 5,350 level again.
On an intraday basis, Nifty spot should find (PIVOT) support near 5,420 & 5,393 level while the resistance will be at 5,468 & 5,495 level. The Sensex should find supports at 17,850 and 17,780 and resistances at 18,180 and 18,364.
On an intraday basis, Nifty spot should find (PIVOT) support near 5,420 & 5,393 level while the resistance will be at 5,468 & 5,495 level. The Sensex should find supports at 17,850 and 17,780 and resistances at 18,180 and 18,364.
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