Wednesday, October 23, 2013

Outlook of nifty on 24/10/2013


Nifty closed slightly down but had recovered from lows of 5116 to close at 5178 level. So today the first resistance for nifty is at 6203-08 level. Next resistance ranges are at 6217-22,6237-42,6259-62,6281-85,6305-10,6330-35,6358-62,6388-92,6428-33 levels. On downside first support is at 6150-45 level. Next supports are at 6122-17,6100-97,6076-72,6050-45,6025-20,5990-85,5950-45,5929-24,5895-90,5865-61,5832-27,5794-90,5775-70,5754-50,5732-28,5699-94,5671-67,5650-47,5625-20,5590-85,5560-55,5524-19 level.So today for the uptrend to become strong a move above 6222 better a move above 6242 is required.Attempt long only above 6145 level and below 6177 trend will change to bear. 

Positional Support for NIFTY 6103 6027 5971 5838 5824 5792 5773 5760 and positional Immediate resistance for NIFTY is 6232.
Intraday Resistance of NIFTY are 6234.3 : 6280.7 : 6296.8 : 6313.3
Intraday Support of NIFTY are 6122.4 : 6076 : 6061 : 6044.8

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