NIFTY TREND FOR 15/03/2012
Major Resistance Levels : 5507-5540-5569
Major Support Levels : 5423-5394-5361
Short / Middle Term Target : 4950-5010
Market is still bearish . Please avoid long ( buying ) positions tomorrow .
Nifty opened with a good margin of 60 points and closed at 5463.90 with the gain of 34 points . It was the fourth consecutive market with up trend. Strong trend in global market made Indian market sentimental . Banking sector index showed a remarkable growth as RBI monetary policy review will be conducted on Thursday . PNB & AXIS BANK placed their positions in the list of NSE top five gainers. FII net value were 1659 Cr. It also helped the market to close in green.
Market is basically bearish. In last two market days, it was seen that an openings with heavy margin and then, showed weakness steadily. Obviously , it indicates that market is basically bearish . But, FIIs draw high trading net value in last trading sessions .
FII net value on 9/03/2012 : 1284 Cr
12/03/2012 : 1298 Cr
13/03/2012 : 872 Cr
& 14/03/2012 : 1659 Cr.
It indicates FII buying is huge these days. It is happened due to the positive mood in global markets. But, we can never tell that Indian market is firm now as high inflation rate, low GDP growth , weakening of rupees and so on. Besides , market is bearish . Charts also imply so.
GOOD LUCK.....
1 Q. this is Bull / Bear Market ?
ReplyDeleteSorry for the delay. It is bearish market and it is mentioned in blog clearly .
ReplyDelete