NIFTY FUTURES INTRADAY TREND ANALYSIS FOR 17th JULY 2009

NIFTY FUTURES HAS NOW GOT ITS 50 DMA PLACED AT 4254 & SPOT NIFTY HAS GOT ITS 50 DMA PLACED AT 4246.60 ON THE DAILY CHARTS.

THUS THE 50 DMA HAS BECOME A MAJOR RESISTANCE FOR BOTH NIFTY FUTURES AS WELL AS SPOT NIFTY.

NIFTY FUTURES HAS CLOSED AT 4224.85

UPWARD VIEW OF NIFTY FUTURES

FOR TODAY, PRIMARY UPTREND FOR NIFTY FUTURES WILL START ABOVE 4231 ONLY.

HENCE 4231 IS THE TREND DECIDER FOR TODAY’S INTRADAY SESSION.

ABOVE 4231 IMMEDIATE RESISTANCE FOR NIFTY FUTURES IS PEGGED AT 4242 & 4254.

THE 50 DMA IS PLACED AT 4254 THEREFORE SUSTAINING ABOVE 4254 IS A MUST FOR FURTHER UPTREND.

NIFTY FUTURES MAY RISE ABOVE 4254 BUT IT MAY REVERSE & CRACK THE 4254 REGION. HENCE HOLDING FIRM ABOVE 4254 IS COMPULSORY.

ABOVE 4254 IMMEDIATE RESISTANCE FOR NIFTY FUTURES IS PLACED AT 4277 – 4302.40

4302.40 WILL ACT AS A SMALL HURDLE AND NIFTY FUTURES MAY REVERSE FROM THERE.

ABLE TO TRADE ABOVE 4302.40 WILL TAKE NIFTY FUTURES FURTHER TO 4327 – 4336.50 & 4351.

DOWNWARD VIEW OF NIFTY FUTURES.

YESTERDAY'S DAY LOW OF 4194 IS A CRUCIAL REGION FOR TODAYS INTRADAY SESSION.

YESTERADY NIFTY FUTURES BOUNCED BACK TWICE FROM THE 4194 AREA HENCE THE SAME REGION OF 4194 SHOULD NOT BE BROKEN OR ELSE THE SAME SUPPORT OF 4194 WILL ACT AS A MAJOR RESISTANCE FOR THE NIFTY FUTURES TO MOVE UPWARDS.

A CRACK AT 4194 AND NIFTY FUTURES MAY MAKE A NEW LOW AT 4164.

1st BOUNCE BACK REGION IS PLACED AT 4164.

FAILURE TO HIT BACK FROM 4164 WILL TAKE NIFTY FUTURES TO 4143 – 4126.

2nd & THE LAST BOUNCE BACK REGION IS PLACED AT 4126 FOR TODAYS INTRADAY SESSION.