From the above chart, It is indicated that Nifty is slowly defining its direction. It has already broken the trend line. Bearish state of Nifty will be confirmed when it will break 5058 and will stay below it. For keep its bullishness Nifty has to be above 5150 and sustain above it. Bullish state of Nifty will be confirmed when Nifty stay above 5150. Till now Nifty is caught in a range 5180 to 5050. It is recommended for those, who are not professional traders, not to trade on Nifty Future. Nifty is a range bound because most of the traders are playing wait and watch game. Tomorrow (15-12-2009) opening should be watched whether it is breaking 5112 or 5099.
Tomorrow may be the flat opening. Negative or Positive whatever it is. Just watch below given levels. If opens and stay below 5099 then it may test 5087 and further more it is 5069. Ultimate support appears at 5050. If unable to break 5099 and opens and stays above 5112 then it may test 5124 and stay above 5124 it will hit 5143. Ultimate Resistance appears at 5182.
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