29 March 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 30 MARCH 2012
As we have predicted in our previous posts there has been range bound movement in the  market. The  nifty short strangle strategy given by us is giving decent returns continue to hold.
A bowl of initial volatility was witnessed as the market recovered soon after a weak opening at 5145. The market weakened again later.
Nifty shed 16 points to settle at  5178 points.
Unless nifty doesn’t cross range between 5216-5232 we would not see any sustainable recovery .But an obstacle of 5200 should be crossed for more upward climb . On downside if level of 5140 is broken decisively then next support would come at 5100.
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
5200
SUPPORT1
5145
RESISTANCE2

5230
SUPPORT2
     5120
RE SISTANCE3
5280
SUPPORT3
 5090

1 comment:

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