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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