NIFTY OUTLOOK FOR TOMORROW
Nifty lost 143 points
to 5,542, its lowest closing level since april. The index hit a low of
5,521 and a high of 5,664 in intraday trade.If in tomorrow’s trading the Nifty trades below the 5550-mark, This
is the most important support zone—the index has been taking support close to
this zone because it has ability to act as the floor—the buying appetite for
stocks around this range is quite great hence you see the support....
However, it
has become quite vulnerable since despite it providing the floor the bulls are
lacking fresh gumption to push the market higher. Keep it in mind that once
this important support area gets decisively taken out, you will see the market
would fall much further breaking quite a few important supports on the way
down. We might well be headed for 5350 – 5400 kind of levels.More about intraday tips on google +
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RESISTANCE:5550 5580, 5650
SUPPORT :5540, 5500,
5450
Deepak Thank you, , for the wonderful tips. You kept your word. I will be trading by next week and follow your recommendations.
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