NIFTY FUTURES INTRADAY TREND ANALYSIS FOR 21st JULY 2009

NIFTY FUTURES HAS CLOSED AT 4510.

UPWARD VIEW OF NIFTY FUTURES

1st RESISTANCE FOR TODAY IS PLACED AT 4531.

FOR TODAY TO MOVE UPWARDS NIFTY FUTURES WILL HAVE TO HOLD ABOVE 4531.

""""ABLE TO HOLD IT SELF ABOVE 4531 WILL TAKE NIFTY FUTURES TO 4559 & 4587"""""

THE 4587 MARK IS THE LAST SPOT FOR TODAY’S INTRADAY SESSION AND PROFIT BOOKING IS EXPECTED TO HAPPEN AT THIS 4587 REGION.

THUS THE 4587 – 4590 MARK IS THE MAXIMUM FOR TODAY’S TRADING SESSION.

NIFTY FUTURES HAS ALREADY RALLIED 612 POINTS IN 6 STRAIGHT TRADING SESSIONS.

FROM HEREON TRADERS SHOULD REMAIN CAUTIOUS.

TODAY A MINIMUM CLOSE ABOVE 4550 WITH GREEN BUYING VOLUMES IS NEEDED FOR THIS RALLY TO CONTINUE ITS UPWARD JOURNEY.

"""""UNABLE TO CLOSE ABOVE 4550 WILL BE THE 1st SIGN OF THE TREND REVERSING DOWNWARDS""""""

DOWNWARD VIEW OF NIFTY FUTURES.

4500 IS THE TREND DECIDER FOR TODAYS INTRADAY SESSION.

BULLS WILL HAVE AN UPPER HAND TILL 4500 REMAINS INTACT.

CRACK AT 4500 & FAILURE TO SUSTAIN ABOVE 4500 WILL TAKE NIFTY FUTURES TO 4475

4475 IS A STRONG SUPPORT AND NIFTY FUT SHOULD HOLD ITSELF AT THIS SUPPORT OF 4475.

FAILURE TO HOLD ITSELF ABOVE 4475 & NIFTY FUTURES CAN SLIDE DOWN TO 4460 – 4447.

4447 IS THE 1st BOUNCE BACK ZONE FOR TODAYS INTRADAY SESSION.

IF 4447 IS BREACHED THEN A FURTHER FALL UP TO 4427 – 4406 NOT RULED OUT.

4406 IS YESTERTDAYS DAY LOW AND IT SHOULD REMAIN INTACT.

IF 4406 IS BROKEN THEN FURTHER SLIDE DOWN TOWARDS 4389 – 4372 IS EXPECTED.

4372 IS THE 2nd & THE LAST BOUNCE BACK ZONE FOR THE BULLS.

SLIP BELOW 4372 AND NIFTY FUTURES WILL HIT 4355 – 4337.