NIFTY TREND FOR 16/03/2012
Major Resistance Levels : 5453-5514-5554
Major Support Levels : 5330-5290-5229
Market is bearish . Please avoid long ( buying ) positions tomorrow .
Nifty lost 83 points and closed at 5380.50. Just as mentioned yesterday ( Ref ; NIFTY TODAY : EPISODE 64) the market was bearish today . Bank stocks showed weakness today as RBI's monetary policy regarding rate cuts couldn't make any advantage for banking sector .
Rupees showed a weak trend today . Most probably , it may continue at least for some more trading sessions . It will cause further fall in Indian market. More over, economic surveys reveal that inflation will be a curse for Indian economy and government has to take bitter and strong decisions to tackle this problem .
Lastly , Ms. Mamatha Banarjee, who is a leader of the party which is participated in Central Government, not on good terms with leading party in Central Government . Their understanding became worse after Union Railway Budget . It may evoke some disturbances in government and it may affect the market badly. Thus, one can expect more trading sessions with bearish trend.
GOOD LUCK.....
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