19 December 2011

NIFTY OUTLOOK FOR TOMORROW


Things have turned quite murky  now index moved down in such a fashion that makes further downside movements a very high probability event.
As we have predicted in our previous post RBI on Friday left its main lending rate unchanged in order to support faltering economic growth as inflation shows signs of cooling.
Nifty continued to move in negative trend ,opened at 4602.25 couldnot maintained this level throughout the day touched the level of 4561 todays lowest level.Again managed to climb and lastly closed at 4613.10.Now it will take long to climb up again for nifty.The level of 4580 will prove the major support for it
NIFTY  LEVELS FOR TOMMOROW
RESISTANCE1
4623.40
SUPPORT1
4592.77
RESISTANCE2

4633.83
SUPPORT2
4581.32
RESISTANCE3
4675.21
SUPPORT3
  4550.44   

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