21 March 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 22 MARCH 2012
The market opened low but edged higher to move in positive terrain in afternoon session. The index hit the low of 5262 in morning session itself. It extended intraday gains to hit intraday high of 5364 in afternoon session.
Nifty was up by 90 points finally closed at 5364 highest closing level since  15 march. The range between 5325-5375 for nifty holds key for any recovery attempt by bulls, if they manage to push index above it we can expect more gains.
On downside support levels to monitor would be 5230-5200. Till time nifty slide below 5182 bulls would retain their ability. One can buy nifty 5200 April put @48 Rs.
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
5400
SUPPORT1
5242
RESISTANCE2

5436
SUPPORT2
     5220
RE SISTANCE3
5540
SUPPORT3
 5112

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