Thursday, May 24, 2007

25 May 2007

Hiii Alll

Nifty future crossed level of 4242 but could not sustain above it. Profit booking seen towards end of the session has weakened position and IT stalwarts are likely to lead further correction. Crucial level of 4200 is violated and this may apply breaks to upward movement, may be temporarily. To maintain upward momentum once again crossover of 4242 is must. Failure to cross 4242 will be a negative signal. Crossover of 4215 will lead Nifty future to the level of 4228 and if crossed to the level of 4246. Crucial high is at 4247.05. Crossover of 4247.05 will once again accelerate upward movement leading Nifty future to 4270. On lower side violation of 4180 will lead Nifty future to the level of 4160 and if violated the next level to be opened will be 4126. Crucial bottom remains at 4117.60. Resistance to upward move will be at 4239 and 4274 whereas Support will be at 4177 and 4150.

CLOSE 4204
R1 4239 R2 4274
S1 4177 S2 4150

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