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