Nifty Levels - 24 Dec 2008

Markets are behaving in the way expected. Nifty today broke 2920 levels but not convincingly and closed at 2916 in spot. Also because of selling pressures from last 3 days, markets have reached in somewhat oversold range. There seems to comes some unexpected bounce on Friday . The levels for Friday are :

Supports s1 , s2 2880 2850
Resistance r1,r2 2960 2992

Tomorrow all Asian and global markets will remain close coz of Christmas. DOW seems to be in joyful mood with 40 points in green celebrating the pre Christmas day. It is kind of unexpected even though jobless data has grown to maximum.

On Friday Nifty will look for same relief from last 3 sessions selling pressures. So wont be surprised to see nifty going in green & trying to breach 2960 on upper side. But that will be seen on Friday morning till then Merry Christmas