NIFTY TREND FOR 22/03/2012
Major Resistance Levels : 5419-5460-5535
Major Support Levels : 5277-5202-5161
Market is bearish. But, it may open at 5420 range. After that, it may fall downwards . So, long ( buying ) positions are not recommended .
Nifty ( closing ) : 5364.95
Nifty showed a steady increase throughout the day except the opening session. European market showed strength and it fueled the upward rally in Indian market.
IT stocks gained very well as the Indian rupees showed depression against US dollar.
Nevertheless , charts indicate that market is still bearish .
GOOD LUCK.....
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