Friday, January 23, 2009

Nifty update for 23/01/2009



Yesterday nifty was able to close above the 2700.Now for today the support is found at 2645-2630.we also have fibo level placed at 2645-2630 levels(fibo from 2500-2147) which will be strong support for today.A breach of this level will take to 2570-2550.Resistant is found at 2700-2715 levels.A strong close above 2750 will stop the down trend for short term.It is not going to that easy because we have so much hurdles found in between 2700-2750 level.A weekly close below 2700 will bring fast the 2250 level very quickly.

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