Nifty Outlook for 18th January 2012
Today's key support & resistance level - 4938 & 4978.Though RSI suggests that Market is overbought,DI are indicating that this bear rally is much stronger,similar to the rally seen in Oct 2011 - From 4710 to 5360 SMR is indicating that there is excessive of greed in the system.Long traders should keep tight stop at 4879.Nifty will see more traction above 4978 closing.
Today's key support & resistance level - 4938 & 4978.Though RSI suggests that Market is overbought,DI are indicating that this bear rally is much stronger,similar to the rally seen in Oct 2011 - From 4710 to 5360 SMR is indicating that there is excessive of greed in the system.Long traders should keep tight stop at 4879.Nifty will see more traction above 4978 closing.
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