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Tuesday, September 16, 2008

Nifty update for 15september

Open 4231.95
High 4237.25
Low 3955.40
Last 4072.90
Prev. Close 4228.45

As told u all in the morning,that below 4170 level we will see step downside in nifty,and exactly the same happened today..and all support levels breaked for nifty and nifty touched an intraday low of 3955 level. Huge selling pressure of FIIs was there whole day long,though a bit short covering made nifty to recover some what.
Now the major support of bifty is at 3960 level,if this level is breached and sustained we will again see panic selling upto 3910-3880-3830 levels. In current scenario,it is adviced to book all positions in intraday as market is choppy with negative bias, but in coming days we will see short covering coming in. Market is highly in oversold zone right now. So the movement in market will be sharp on both sides, i.e. that is the upside will also be sharp similar to downside we are watching these days.
Nifty key levels now are 3960 on lower side and 4130 on upper side. Watch these levels for any major movement in the market!

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