17 May 2012

NIFTY OUTLOOK FOR TOMORROW


MARKET TREND FOR 18 MAY  2012
Index edged higher in early  session ,it extended  gains to hit high of  4920 in morning session itself. Index trimmed losses to hit intraday low  4853 in after noon session. Bulls are not able to push and sustain index  beyond 4925 .
For further upward swing we need to see nifty sustaining above 4850 , then cross the level of 4890 on upside. Once it is successful in doing so ,expect this index to test  very significant supply  zone between 4925-4950. If this zone is being firmly taken out further upswing is expected. To put to end to this down trend we need to see a close above 5000.
On down side we need to see the level 4850 ,nifty should not fell below it. If this happens condition will turn out to be more worse ,in that case we need to watch next support between 4810-4830.

  NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
4890
SUPPORT1
4870
RESISTANCE2

4940
SUPPORT2
     4820
RES ISTANCE3
5010
SUPPORT3
 4800

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