NIFTY DAILY OUTLOOK SEPT 13, 2010

On Thursday, market opened gap up on global clues and took
resistance at 5640. In the first-half market remain under selling
pressure, during second-half buying came in the market but not
much volume was seen on up-side and near closing bell market went
under profit booking as expected.

For the day, the level of 5625 and 5605 may act as a major support
for the market and the level of 5660 and 5680 may act as a major
hurdle. Short / medium term traders are advisable to book profit in
long position. Short / medium term trader can start building short
position in nifty above 5600 level in parts with stop loss of three
consecutive close above 5680.

The short term trend will turn negative below the level of 5570.
No trading call for the day

INDEX RANGE

NIFTY: 5640.05
Range: 5605-5680
Resistance: 5660-5680-5695
Support: 5625-5605-5585

BANK NIFTY: 11446.70
Range: 11260-11580
Resistance: 11480-11530-11580
Support: 11370-11310-11260

Short term: Up (5570)
Medium term: UP (5470)
Long term: Up (5180)

All Above Spot Levels

OM SHRI GANESHAYA NAMAH