Nifty – Intraday Outlook & FREE Intraday Tips / Calls for 22nd July 2009 www.StockInspection.com

Posted by Indrodeep Banerjee on July 21, 2009

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On Tuesday markets opened marginally higher but suddenly gave up the gains and slipped into negative territory as profit booking emerged, as expected by us and indicated in our yesterdays post, after a sharp rally in the previous session. The investors kept aside all the strong cues from the US and the Asian markets to drag the markets down into negative territory immediately after the opening.

After a positive opening markets turned extremely choppy and volatile with negative bias on profit bookings emerging before the fno expiry.

However strong European markets tried to boost some sentiments and helped markets to gain some strength to reach into the greens but failed to sustain any upside and slipped again on selling pressure mounting in.

I have been saying for last many days that 3967 will prove to be the crucial support level for the Nifty, if it would had got broken on closing basis then it could have been the beginning of bear trend in the markets again and the markets would have witnessed 3200—3300 levels once again, but above 3967 level bulls may take the charge any time to take the market to 4400 levels.

Above this level of 4400 Click Here To Read Full Article »