13 April 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 16 APRIL
Nifty closed in positive zone on Thursday, bulls hoping that would see nifty to continue its upward rally. But it did not happened so nifty opened at 5255 today maintained near this level till noon, later moved in negative terrain and finally closed at 5205. The high made by index in morning session was 5300 but again dropped by 98 points to touch the low of 5202 in last trading session.
Nifty was dragged down by Infosys sharp decline with the gap where as bank nifty surged ahead. Index would find resistance near 5272-5300 on Monday, it might face supply pressure near 5315-5330.The support area for nifty will be 5200, the level of 5175 would provide next support to it.
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
5270
SUPPORT1
5170
RESISTANCE2

5310
SUPPORT2
     5130
RE SISTANCE3
5360
SUPPORT3
 5040

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