2 May 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 3 MAY  2012
As we have noticed the movement in the market today, i.e. it has crossed the level of 5250 so we can say that this recovery attempt is likely to continue . But index couldn’t maintain its start till the end of the day.
Nifty  continue the positive momentum and expected to trade higher .Technically crossing the level of 5300 and sustaining above it would show the good signs for the index. The range 5300-5325 would act as the major supply zone, unless this range is taken out the recovery attempt may come to naught.
On downside any failure to  hold support near 5220-5200, nifty is likely to test next support near the level of 5170.
Our nifty strangle strategy continue to hold ………..
STOCKS TO WATCH TOMORROW
ASHOK LEYLAND,PANTALOONR
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
5260
SUPPORT1
5220
RESISTANCE2

5290
SUPPORT2
     5200
RE SISTANCE3
5325
SUPPORT3
 5175



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