NIFTY OUTLOOK FOR TOMORROW

MARKET TREND FOR 22  MAY  2012

There was a rangebound movement in the market ,it opened around 4888 and ended on 4906. The index edged higher in early trade then regained strength to hit a high of  4934 in afternoon session. The opening point itself was the lowest point it witnessed  today.

The Indian currency has breached 55 to the dollar mark ,this responsible for the down trend of the market. The coming trading session may also witness the low trend of the market.

On upside nifty if nifty manage to stay  above 4920 we would see good effort on the part of bulls to push things further upward.  After this range 4925-4950 would act as next resistance zone for index. Any move and close above 5000 would confirm that downtrend has been reversed.

As support area ,the range between 4875-4860 would be key demand zone. The  range 4845-4860 would provide next support to the index.

NIFTY STRANGLE STRATEGY GIVEN NY US IS STILL CONTINUE TO  HOLD……….

 NIFTY  LEVELS FOR TOMORROW

RESISTANCE1	4930	SUPPORT1	4880
RESISTANCE2	4960	SUPPORT2	4860
RES ISTANCE3	5000	SUPPORT3	4810