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Friday, July 31, 2009

Intraday market outlook for 31July

On 31July, Nifty future will face resistance at 4690 level, crossing and sustaining above this level will make Nifty to touch higher levels of 4730-4770. Any close above 4730, will boost the markets to head higher. However failing to sustain above 4690-4730, we can see profit booking coming in markets and Nifty fut can revert back to the levels of 4640-4580-4510.
Any close below 4520 level, can again prevail weakness in markets,and can lead panic selling.






We recommend all traders to keep watch on 4690-4730 level for intraday, and if Nifty fut fails to cross these, then one can book profits in long positions for intraday trade. Dont leverage fresh positions at much higher level.





Nifty levels
Resistance- 4690-4712-4730
Support- 4640-4610-4584




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Posted by Rulers!! at Friday, July 31, 2009

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