Nifty Levels for Thursday 2nd September 2010

  Nifty made the strong upside session today and close in the green zone. The next key resistance for nifty future seems to be at the level of 5550. Decisive closing above this resistance may lead the nifty future for the level of 5700 in near run. In the downside the key short term support seems to be at the levels of 5350 to 5355. Decisive closing below this support zone may slip the nifty future till the levels of 5295 to 5300 in near run. For trading we already recommend buy on dips until it close below 5350 for the targets of 5550, 5600.

Sensex may face the next resistance close to the levels of 18450 to 18500. Decisive closing above this resistance zone may take up the Sensex till the level of 18800 in near run. in the downside it is getting the short term support close to the levels of 17800 to 17850. Closing below this support may slip it till the lower level of 17400 in near run.

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