Posted by: Babu Suresh | January 9, 2009

9th Jan. 09 – NSE Trading Session

Today’s Nifty Futures Tick Chart and 1min. Chart
 
DS D (09/01/2009 10:08:27 AM): Nifty Fut. Supports: 2885, 2814; Resist: 2914, 2979
 
Today was yet another session which brought back to the memory the old adage, “Markets have their own language, follow their own course and direction”, irrespective of whatever discourses given by the tireless experts of CNBC or NDTV profit and etc.

Nifty Spot broke an important 9EMA weekly support of 2866 for the 3rd time in the last 3 weeks. Chances of testing my nearby support 2784 cannot be ruled out, subject to various factors.

I pray 2784 support should hold, keeping in mind our friends might still be long hoping for a reversal. Failing to hold 2784, I am afraid the only support that can bring life back to nifty stands at 2502.

Lets not forget, this month unlike any other Jan. of the last 3 years, going to test the nerves of even hardcore traders and investors, and will set precedence to the coming quarters.

Nifty Futures Tick ChartNifty_Fut_090109 

 

 

Nifty Futures 1M ChartNifty_Fut_1M_090109 

Healthy and Wealthy Trading.

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