NIFTYlogy for 12th May

>> Monday, May 11, 2009

We saw today the markets coming down.
I said in my earlier post that we may see a volatile section today.
We saw major Index stocks falling down.
US markets have opened lower. Europe is also trading negative.
So again a volatile day for NIFTY tomorrow.

NIFTY magic levels
Current Spot - 3554.60
Support - 3505 and 3470
Resistance - 3590 and 3645

Over all mode range bounded.
Event to wait for is release of IIP data and Election results this week end.