NIFTY TODAY : EPISODE 58

Nifty ( Closing ) : 5280.35 NIFTY TREND FOR 06/03/2012 Major Resistance Levels : 5340-5388-5419 Major Support Levels : 5237-5206-5158 Short / Middle Term Target : 4950-5010. Nifty lost 79 points and closed at 5280.35 just as our prediction last day ( Ref: NIFTY TODAY : EPISODE 57 ). Special suggestion was given to avoid long ( buying ) positions . After a moderate fall , Nifty got good support at our first support level , 5307. Then, it decreased and got support at our second support level until the closing . Nifty showed low at 5265.80 , while , our support level was given at 5266 ( Ref: NIFTY TODAY : EPISODE 57). It shows the accuracy of our prediction. China's low GDP data made the Asian markets gloomy today . Naturally , it affected Indian market too. The pressure related to U.P. election is too high now. Over and above, charts also reveal that our market is bearish. It is on the way to our target of 4950-5010 day by day. Market is still bearish and traders should avoid fresh and long positions ( buying ) tomorrow . GOOD LUCK.....