Nifty update for 16/02/2009

Nifty closed exactly at the resistant line if it is able to sustain above 2950 then next target will be 2990-3000 above that watch big move up to 3090-3100.Failure to hold above 2950 will lead to 2885-2895 in coming trading session itself.

We see that the RSI is touching the trend line so expect some fall back.