Nifty Intraday Outlook For 10-Jan 2012

It was flat day for Indian stock markets today. Both bench mark indices were choppy and closed with moderate loss. Nifty has been trading in the range of 4,675-4,800 for 6 consecutive days. Volatility may be continuing until Nifty manages to sustain above 4,800 or below 4,675 levels.

For intraday trading tomorrow 10-Jan, trend deciding level is 4,750. If Nifty shows strength above 4,750 levels, then rally to 4,800-4,835-4,900 may be seen. If Nifty does not show strength above 4,750 levels then selling pressure till 4,700-4,650-4,600 may also be seen.

Nifty could find resistances at 4,860-4,910 levels, while on the downside, supports are placed at 4,680-4,650 levels for Intraday trading tomorrow on 10-Jan 2012.

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