Nifty ( Closing ) : 5381.60
Pivot : 5384
Support levels : 5330-5287-5243
Resistance levels : 5437-5481-5524.
Short / Middle Term Target for Nifty : 5490-5530.
Though Nifty decreased 31 points and closed at 5381.60, trend is still bullish only. It should be considered just as the correction for the time.
Weak IIP data and depression in the world market affected Indian market to close in red. Bank stocks were the leaders of losers.
Indian Industrial Production (IIP) growth was drawn at 1.8% only which was lower than expected. Besides , most of the global markets ( Asia & Europe ) showed weakness today .
Next, the Chief Financial Officer of TATA STEEL , Mr. K. Chatterjee revealed that the company hikes prices at the rate of thousand rupees per tonne for this month. He asserted that it is required urgently for the sake of the company.
GOOD LUCK.....
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