Nifty ( Closing ) : 5521.95
TREND FOR 17/02/2012
Major Nifty Resistance Levels : 5551-5570-5598.
Major Nifty Support Levels : 5482-5454-5435.
Short Term Target : 5583-5593.
Market is slightly bullish. But, every trade must be done with proper stop loss.
Nifty ended on a flat note today . Nifty lost 10 points and closed at 5521.95, although Asian and European market showed weakness today .
KINGFISHER reported Q 3 loss to 444 Cr. Depreciation of the rupees caused to hike in fuel cost and thus, company increased its loss in this quarter.
Decrease in China's Foreign Direct Investment ( FDI ) affected Asian market badly and most of them showed a down trend today .In the same manner , Greece crisis influenced European market negatively .
Nevertheless , Indian indices lost a negligible level today . It showed the strength of Indian Capital Market. Besides , it is heard that Pakistan plans to allow direct investment in India. If it is so, it will enhance the trading conditions financially as well as psychologically .
Many investors expect a profit booking. In this context, possibility for correction can not avoid utterly. So, traders should be sufficient pre-cautious .
GOOD LUCK.....
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