Friday, January 30, 2009

Nifty daily update for 30/01/2009


Nifty has completed the relief rally as we have to say and stopped exactly at 2873 levels.As already informed in yesterday's post nifty touched the resistant level and fell back to the support level found at 2810-2820 levels.The 2840-2850 acts as a breakout level which has been tested already and again tested yesterday.Now if nifty trades below yesterday's low of 2795 we take to 2740-2750 levels.

Below that wave support placed at 2600-2630 levels.

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