Update for 25th April 2011

   Nifty Futures Test the 5925 - 5950 Resistance, But ?     

• As expected,  Nifty futures tested the 5925 -5950 resistance area on the last trading day. Though Nifty futures traded in the positive territory on Thursday, trading was mostly sideways and in a range bound manner for the whole trading day.
• Therefore, the result of the test was remained unknown even at the close of trading on Thursday.

  Nifty Futures - Intra-day Chart

Nifty Futures  - Daily Chart 

Update for 21st April 2011

  A Test of the 5925 - 5950 Resistance Imminent ?     

• Nifty future has reversed from the first support area of 5700. This may lead to an imminent test of the 5925 - 5950 resistance area. 
• A significant break out above the resistance area may lead to a rally of some 200 to 250 points or even a test of the all time highs in the medium term.
• However, some more sideways trading in the present trading range is also a realistic scenario due to the imminent interest and petro price hikes, corporate results and other uncertainties.
• This edition of the Momentum Signal update is also a shortened one due to some limitations. 

    Nifty Futures - Intra-day Chart

Nifty Futures  - Daily Chart