Nifty Technical Analysis for February 25, 2009

Nifty Hourly (60min) Chart (Above)

Nifty Daily Chart

Upside: Nifty ended near the resistance zone after initial gap down opening. Initial resistance is at 2750, breaking which can take to 2780-2800.

Downside: Initial support is at 2675 breaking which should take to 2655 levels, if 2655 is broken then there will be next leg down towards 2580-2550.