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
|
superb blog.it provide essential information of the market
ReplyDeletegood article ,keep it up
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