Thursday, January 31, 2013

S&P CNX Nifty for 1 February 2013.

As predicted in our last post on the Nifty, it did turn weak without volatility yesterday finding support at 6025.15 which was a shade above our predicted support of 6024. The tipping point for today is at 6040 and the immediate resistance is at 6043, 6054 and 6078. The immediate support is at 6024, 6005 and 5944.
Our outlook for the day is that Nifty is poised for a little more consolidation amidst continued weakness but sudden volatility and jump towards the close cannot be ruled out.

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