MARKET TREND FOR 23 MAY 2012
The market opened on firm note at the
level of 4954,but could not maintained itself here for a long. In after noon it
dropped down and finally ended at 4860.The
low it made today was 4853 . The
index sustained at 4920 for a long but could not manage to cross it.
If nifty is found holding the level
of 4935 ,it would mean bulls have retained there initiative and could further pull up the index while the
range 4940-4970 would act as supply zone. Once the zone 4970 is taken out ,it
would be very significant for bulls and prove that bulls have won the round.
In case of another round of profit
booking lead sell off again ,we need to monitor 4883 then the level of 4850 on
down side. Only if we see 4850 getting broken we should be watching for
4830-4800 as support area . As long as nifty closes below 4800 bulls would not
loose their initiative.
NIFTY LEVELS FOR TOMORROW
RESISTANCE1
|
4950
|
SUPPORT1
|
4850
|
RESISTANCE2
|
4990
|
SUPPORT2
|
4820
|
RES ISTANCE3
|
5030
|
SUPPORT3
|
4760
|
Thank you for sharing your useful tips
ReplyDeleteregards for nifty tips.
thanks for dropping on nifty tips prashant
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