6K res and 5.7k sup

[jis26]

Hello friends,

Im looking for help on technical anlalysis of nifty.

Recently market was around 6000 level for some time and could not
break and fell badly and took support at 5720. then bounced back.

Technically how can we analyse that 6000 is a strong resistance and 5720
is the strong support.

What are the factors to look into.

Help appreciated.

thanks,
jis

 

[columbus]

Hello friends,

Im looking for help on technical anlalysis of nifty.

Recently market was around 6000 level for some time and could not
break and fell badly and took support at 5720. then bounced back.

Technically how can we analyse that 6000 is a strong resistance and 5720
is the strong support.

What are the factors to look into.

Help appreciated.

thanks,
jis

As "2G Spectrum" is hanging like sword of Damocles on the centre ,I will go with 6100 as
resistance with support of 5700 or even lesser till expiry.The amount involved is 1.76lakh
crores ,equivalent to 2 or 3 States total Budget for the year.