As expected, Nifty faced resistance at 2950-2960 levels and fell sharply from those levels due to negative global cues.
On Wednesday, 11 Feb, 2009, Nifty is expected to open in the red due to bad global cues. The important level to watchout will be 2860-2845. Below this level, Nifty will be bearish and above this level, recovery can be expected till 2900. There may not be any shorting opportunity for intraday players at least in the first half due to gap down opening. One can go long near 2850-2840 levels for intraday gains.
Nifty resistance at 2880-2900-2930-2955. Support at 2860-2840-2825-2800
www.niftypower.webs.com
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