Nifty Intraday Outlook For 10-Jan 2012

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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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