NIFTY LEVELS 03/05/2010

Yesterday Nifty future opened on negative note and tested our target levels at around 5048,then moved upside with the help of LT,SAIL,ITC,TATASTEEL &
HINDUNILEVER.


Nifty Future Levels for March 05,2010.

Bears Party

Sell Nifty future below 5076 witth a downside target of 5062 and 5047, and more downside only below 5036 with a good support at around 5022.

Bulls Party

Buy Nifty future only above 5086 with an upside target of 5101 and 5116, and more upside only above 5126 with a strong resistance at around 5140.



As seen in Nifty daily graph,a downfall today will confirm the start of 5 th wave, with a target seen below 4500.This will happen only if Nifty weekly close below 5000,which acts as a good support for the timebeing. Some rumours has been heard about the downfall of world markets in the coming months.