NIFTY FUTURES INTRADAY TREND ANALYSIS FOR 16th JULY 2009

NIFTY FUTURES

NIFTY FUTURES HAS CLOSED AT 4237. THE 50 DMA IS PLACED AT 4244
SO 50 DMA OF 4244 WILL ACT AS A MAJOR RESISTANCE.

SPOT NIFTY

NIFTY SPOT HAS CLOSED AT 4233.50 THE 50 DMA IS PLACED AT 4236
SO 50 DMA OF 4236 WILL ACT AS A MAJOR RESISTANCE

UPWARD VIEW OF NIFTY FUTURES

“TREND DECIDER” FOR TODAY IS THE “50 DMA” THAT IS PLACED AT 4244.
UPTREND ABOVE 4244 ONLY.
ABOVE THE “50 DMA” OF 4244 IMMEDIATE RESISTANCE IS PEGGED AT 4262-4269.
THE TREND IS LIKELY TO REVERSE FROM THIS REGION OF 4262 - 4269
SUSTAINING ABOVE 4262 -4269 WILL CARRY NIFTY FUTURES UPWARDS TO 4284 – 4293.90 ZONE.
"""""4293.90 IS A MAJOR RESISTANCE AND NIFTY FUTURES HAS A VERY BIG CHANCE OF REVERSING FROM THIS REGION"""""
IF NIFTY FUTURES MAKES A FIRM GROUND AND MANAGES TO HOLD ITSELF ABOVE 4293.90 THEN & ONLY THEN A FURTHER RISE UP TO 4303 – 4336.90 CAN BE EXPECTED.
4336.90 IS THE MAXIMUM FOR TODAYS INTRADAY SESSION.

DOWNWARD VIEW OF NIFTY FUTURES

4200 IS THE MAJOR SUPPORT ON THE DOWNSIDE.
IF NIFTY FUTURES FAILS TO HOLD ABOVE THE 4200 MARK THEN IT CAN SLIP FURTHER TO 4184 – 4167.
1st BOUNCE BACK REGION IS PLACED AT 4167.
CRACK AT THE BOUNCE BACK REGION OF 4167 AND NIFTY FUTURES CAN SLIDE DOWN FURTHER TO 4143 – 4117 REGION.
YESTERDAY'S DAY LOW OF 4117 SHOULD IS A SIGNIFICANT SUPPORT FOR TODAYS INTRADAY SESSION.
A CRACK AT 4117 & NIFTY FUTURES WILL SLIDE DOWN FURTHER TO 4096 – 4075.
2nd & THE LAST BOUNCE BACK REGION IS PLACED AT 4075 & A CRACK AT 4075 WILL TAKE NIFTY FUTURES DOWN TO 4033.