Nifty ( Closing ) : 5607.15
NIFTY TREND FOR 22/02/2012
Major Resistance Levels : 5645-5670-5705.
Major Support Levels : 5559-5524-5499.
Short Term Target : 5525-5535.
Nifty got moderate gain and closed at 5607.15. FIIs' fund inflow still there in same intensity which is being seen from the beginning of this year. It could assure some positive sentimental mood in the market. Thus, market closed in green.
Import duty is fixed at 19% on imported power equipment . It is applicable for mega projects only. This matter fueled the price hike of BHEL stock which placed first among " NSE Top 5 gainers'.
Market volume increases as the settlement date ( 23/02/2012) for futures and options is neared. It may cause for profit booking as well as position covering . Thus, market may make sideways movements. So, it will be wise approach to avoid fresh positions next market session.
GOOD LUCK....
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