Nifty and Stock Specific view for 22 May

By | May 21, 2009

Nifty after having a Historical Stat of the week has come under pressure and is bleeding from past 2 days.Now what next for Nifty

Nifty looks week below 4200 and closing below that can see more weekness and gap is also left to be filled from 3800-4200.

Nifty Pivots Support is at 4167 4123 4047 while resistance comes at 4286 4362

Take Long at support and sell at Resistance,Wait for a 5 mins confirmation to see if support is taken out or is it sustained before taking a positions

Reliance Resistance @ 2160 2206 and Support @ 2086 2057 RIL has taken support at 5 EMA chances of going up are more .

SBIN Resistance @ 1760 and 1809 Support @ 1681 and 1651

Regards,
Bramesh

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