19-11-2008 Views.

Hi, Nifty took support at 2680 level after breaking 2700. We may see some more down side.Nifty may take support at 2630 level and go up. If it goes down further it may take support near 2530 .Below which it may touch 2250 and move up. On higher side it will face resistance at 2700 beyond which 2800 may be the resistance. Above 2800 ,2830 and 2870 will prove stiff resistance. Any how market is looking for a good reason to go up to 3000 and 3100 level. But whether this level is reached after touching 2250 or not is a big question. Sugestion: Investers can book profit of 2900put when the market goes down and buy outof the money call say2800 call or 3000c at lower level of nifty. Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.