MARKET TREND FOR 16 MAY 2012
Index opened below 4900 but soon
gained pace and crossed this level. The bad start turned out to be good one as
index after hitting a high of 4946 ended
at 4942 finally. The index did not fell below its opening level 4869 today.
If nifty manages to cross 4900 then
it would mean that recovery attempt may sustain for some time else weakness
will paramount. The level of 4950 would prove to be a hurdle in the upward move
once index sustain above it would be a good sign of hope.
On the other hand the level 4870
would act as major support for the index . The range 4840-4860 would provide
next support to it ,bulls will not give up fight even if lower level to this
range is breached tomorrow. In case the
level 4840 is broken by heavy selling the next support to be watch out would be
4814.
NIFTY LEVELS FOR TOMORROW
RESISTANCE1
|
4970
|
SUPPORT1
|
4890
|
RESISTANCE2
|
5000
|
SUPPORT2
|
4840
|
RES ISTANCE3
|
5070
|
SUPPORT3
|
4810
|
good blog,regularly updated on nifty future levels
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Deletenice blog.i like reading it regularly
ReplyDeletegood blog.the market outlook helps to plan out for next day trade
ReplyDelete