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Wednesday, December 1, 2010

Nifty Spot levels For 1st DEC

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NIFTY SPOT LEVELS
SUPP 1: 5790
SUPP 2: 5716
RES 1: 5914
RES 2: 5965

Nifty futures showed a sharp recovery after GDP data and has closed near to its major resistance level of 5900. It may take up move above 5900 level . One should take long position in it above 5900 level . Resistance for nifty future is at the levels of 5910 /5990 and support is at the levels of 5835/5750.

Resistance: It has first resistance close to the level of 5910 & after that it may face the next resistance close to the level of 5990.

Support: It has first support close to the level of 5885 & after it may get the next support close to the level of 5750.