Market Outlook 2 December 2009
Nifty (5122)
Nifty daily chart has formed “Long White Candle” and closed on the verge of upper trend line and “cup & Handle” pattern break out. Double top formed at 5138 level crossing which will provide good breakout for Bull to intensify its grip on market. If Nifty sustain its “Cup and Handle” break out then possible target for short term is 5500 plus but for that Nifty needs two close above 5200 level.
Intraday Support :-5100-5080-5065
Intraday Resistance :-5138-5155-5180
Nifty daily chart has formed “Long White Candle” and closed on the verge of upper trend line and “cup & Handle” pattern break out. Double top formed at 5138 level crossing which will provide good breakout for Bull to intensify its grip on market. If Nifty sustain its “Cup and Handle” break out then possible target for short term is 5500 plus but for that Nifty needs two close above 5200 level.
Intraday Support :-5100-5080-5065
Intraday Resistance :-5138-5155-5180
