9 May 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 10 MAY  2012
Market is in the pessimistic zone. It closed below 5000 for the second consecutive day. The depreciating rupee and lack of policy action are the causes of this downfall. The index opened at 4967 today ,a tough fight was witnessed in the market throughout the day to cross the level of 5000, index crossed it but could not  sustained above it.
The market is likely to open lower i.e. below 5000. Chances are support zone between the nifty levels of 4975-4990 would be tested severely. The whole zone 5000-5125 would act as tough supply zone to overcome.
Intermediate support on lower end will be seen near 4955  and then at 4920. Next support will be on 4883. In case of major fall the range 4845-4880 would be more likely to hold .
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
5000
SUPPORT1
4950
RESISTANCE2

5040
SUPPORT2
     4930
RESISTANCE3
5080
SUPPORT3
 4880

1 comment:

  1. very good blog helps a lot to plan for next day trading

    ReplyDelete