The important break-out levels for Nifty on intraday will be 4890 and 4925, breaking on either side will give lead to a small rally or a fall.
Supports – 4878 / 4851 / 4807
Resistances – 4938 / 4965 / 5008
Bank Nifty Future (Refer Chart: Bank Nifty)
Trading above 9500 will be supportive sign for bullishness in the index. Despite that we can state that Bank Nifty is in bear"s hand.
Supports – 9365 / 9300 / 9200
Resistances – 9490 / 9555 / 9660
Buy above Rs 228
Stop Loss Rs 225
Target Rs 233.50
buy above Rs 442
Stop less Rs 436
Target Rs 451/456
Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.goodreturns.in. You can contact him at rajeshvravanappan (at) gmail (dot) com
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