nifty trade range, resistance level jan 2 -6 2012

nifty trade range, resistance level jan 2 -6 2012 : Indian share market traded mixed this year . Fights of bulls and bears entertained throughout the year sometimes threatened too. If we talk about the coming year i.e. 2012 then in the next six-nine months, we could see the Nifty gradually drifting downwards. We could see a level of around 4,000. 2012 will virtually be a wash out year for any investor looking to make money.

For the next trading week 02-06 Jan 2012, Nifty is likely to remain positive and may trade in the range of 4,525 and 4,850. For the week Nifty is having important resistance level at 4,750 on a close basis.

Trading above this level may attract short covering in the market and in that case markets can extend its ride minimum to the level of 4,900 and maximum 5,000 on higher side. While contradictory closing below the level of 4550 will be the first alarm to bulls and further slippage below 4,500 will be hard landing on the bulls, selloff can extend to the tune of below 4,500 level. read Nifty trend for Monday 2 january 2012

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