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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