12 May 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 14 MAY  2012
The index edged lower for the fourth consecutive day . We are bracing for more weakness further. Nifty traded below 4950 throughout day. The highest point it touched on Friday was 4971 and the lowest point was 4912.
As we have noticed on Friday index has breached the level of 4950and now heading towards 4900 as per technical analysis. The first initial range for Monday  would be 4935-4950. The next significant zone below 4900 will be 4860-4900. Below it we would see  the range 4840-4860 under fire.
Incase of any recovery we need to see nifty crossing the level of 5008 in decisive manner  so that index may sustain above 5000. If heavy volume based buying  take nifty above 5028 and sustain here then it would be a good sign of recovery.

NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
4940
SUPPORT1
4905
RESISTANCE2

4990
SUPPORT2
     4875
RESISTANCE3
5055
SUPPORT3
 4810

2 comments:

  1. superb blog.it provide essential information of the market

    ReplyDelete
  2. good article ,keep it up

    ReplyDelete