The
market may remain volatile this week as traders roll over positions from the
near-month July 2012 series to August 2012 series. The July 2012 derivatives
contracts expire on Thursday, 26 July 2012. The market opened weak today, closed
with moderate gains in the end hitting the low of 5111 in late trading session.....
We can expect a pullback
rally from here unless the level of 5100 for the index is seen getting broken on heavy selling. Immediately
,on the way up, the level 5147 will act
as a serious hurdle. Any close above the level of 5186 would mean strength
starting to come back again; however, any failure to do so makes the market
vulnerable for fresh wave of selling.
Resistance 1
|
5135
|
Support 1
|
5115
|
Resistance 2
|
5150
|
Support 2
|
5100
|
Resistance 3
|
5180
|
Support 3
|
5075
|
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