MARKET TREND FOR 8 MAY 2012
Index started from 5014 then hit the low of 4993 in morning session itself. Nifty rose in
later part of the day to hit the high of
5117 and finally game ended at 5114
points .
As we have predicted in previous posts 5000 has acted as major support.The start above 5100 would be a good one,
if index recovers beyond 5125 then the level of 5150 would be next critical
zone to watch out .As this rally happens then we need to monitor the
performance near the range of 5175-5200.
On down side below 5050 ,the level
5010 is very important .Any sustained below it would suggest a breakdown below
5000. I f this happens then level of 4985 would offer some support to index.
NIFTY LEVELS FOR TOMORROW
RESISTANCE1
|
5150
|
SUPPORT1
|
5030
|
RESISTANCE2
|
5200
|
SUPPORT2
|
4950
|
RE SISTANCE3
|
5260
|
SUPPORT3
|
4890
|
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