LATEST TECHNOLOGY BLOG: nifty out look for the day- 25-05-2011

Tuesday, May 24, 2011

nifty ,out look for the day

BEARS TAKING REST AFTER BIG INNINGS AND
BULLS ARE SEARCHING FOR REMOTE HOPES.
GLOBAL MARKETS TRADING FLAT AND GIVVING
NO CLUES.

BULLS MAY RECOVER FROM TODAY LOW 5367 OR
FROM 5333. ANY FURTHER SLIP IN NIFTY WILL
GIVE VALUE TO THE FOLLOWING LINES.

5355 IS THE FIRST TARGET OF BEARS. 5266 IS
ANOTHER TARGET. AS PER TECHNICAL SOURCES,
ANY BREAK-DOWN BELOW THE
5222-66 LEVELS WILL LEAD NIFTY TO 4444.

TECHNICAL VIEW
================

LAST(24/05) CLOSE@5394 (+8 POINTS)

LAST HIGH@5422 LOW@5367
WEEKLY HIGH@5541 LOW@5367

5DMA@5423
20DMA@5546
50DMA@5638
200DMA@5755

IMMEDIATE TREND NEUTRAL.
POSITIVE ABOVE 5422.
NEXT RESISTANCE ARE AT 5444 AND 5488.
NEGATIVE BELOW 5377.
NEXT SUPPORTS ARE AT 5355 AND 5311.

5-DAY RSI 33 AND 14-DAY RSI 37.
INDICATES NIFTY PLACED IN BEARISH ZONE.

WEEKLY KEY RESISTANCE@5555/5644
WEEKLY PIVOT @5466
WEEKLY KEY SUPPORT@5355/5266

EXPECTED RANGE FOR 25/05/2010.
IN SPOT 5311-5488

SPOT RESISTANCE FOR 25/05/2010 5444/5488
SPOT SUPPORTS FOR 25/05/2010 5355/5311

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