MARKET TREND FOR 30 MARCH 2012
As we have predicted in our previous
posts there has been range bound movement in the market. The nifty short strangle strategy given by us is
giving decent returns continue to hold.
A bowl of initial volatility was witnessed
as the market recovered soon after a weak opening at 5145. The market weakened
again later.
Nifty shed 16 points to settle
at 5178 points.
Unless nifty doesn’t cross range
between 5216-5232 we would not see any sustainable recovery .But an obstacle of
5200 should be crossed for more upward climb . On downside if level of 5140 is
broken decisively then next support would come at 5100.
NIFTY LEVELS FOR TOMORROW
RESISTANCE1
|
5200
|
SUPPORT1
|
5145
|
RESISTANCE2
|
5230
|
SUPPORT2
|
5120
|
RE SISTANCE3
|
5280
|
SUPPORT3
|
5090
|