NIFTY TREND FOR 27/03/2012
Major Resistance Levels : 5223-5259-5323
Major Support Levels : 5135-5099-5035
Short / Middle Term Target : 4950-5010
Market is bearish. But, it is the time very near to closing of future & option monthly settlement date. So, positions should be taken only after seeing the pattern of the market tomorrow .
Nifty ( closing ) : 5184.25
Market was clearly bearish and it was predicted in our blog ( Ref: NIFTY TODAY : EPISODE 71). All major indices closed in red today. There were only four gainers in nifty ( IDFC, SESAGOA, AXIS BANK & TATAPOWER. Nifty lost 94 points and closed at 5184.25.
Problems in central government was the major concern for the day. It pulled the market down. Apart from that, China's weak manufacturing data made depression on all the Asian markets. It affected our market too. Finally, just as we mention always , charts show a weak trend in Indian market. Market is being reached our Short / Middle Term Target Level, 4950-5010 range.
GOOD LUCK.....
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