NIFTY TODAY : EPISODE 49

Nifty ( Closing ) : 5505.35


NIFTY TREND FOR 23/02/2012
Major Resistance Levels : 5606-5694-5745.
Major Support Levels : 5441-5390-5302.
Short Term Target : 5550-5565.

Nifty decreased 1.82% and closed at 5505.35. It touched our short term target of 5525-5535 which was given last Friday ( Ref. NIFTY TODAY : EPISODE 47).

Market saw a heavy profit booking in it's last session. According to charts, this correction is justifiable . Among the various indices , realty sector index showed greatest fall at 6.77%.

Nevertheless , nobody can tell that market is fully bearish. As we predicted yesterday , it may be a position covering , since future and option settlement date is close one. Market may bullish tomorrow . But, positions should be taken very carefully , for there is not an accurate direction ( upward / downward ) for the market.

GOOD LUCK.....