7 May 2012

NIFTY OUTLOOK FOR TOMORROW


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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