NIFTY TREND FOR 03/04/2012
Major Resistance Levels : 5359-5381-5412
Major Support Levels : 5270-5239-5217
Short/Middle Term Target : 4950-5010
Nifty is bearish. It may close more than 1% down tomorrow . Hence, traders have to avoid long ( buying ) positions tomorrow.
USDINR APRIL TREND
Major Resistance Levels : 51.55-51.86-52.08
Major Support Levels : 51.02-50.80-50.49
Nifty ( Closing ) : 5317.90
Nifty closed slightly up with 0.42% gain today. Metal, Pharmacy, Health care and Energy stocks showed a weak trend today.
'The tax avoidance on P-notes' helped the indigenous markets to close in green. Of course, it is a fair news for the market.
On the other hand, there are so many negative news associated with the market. India's PMI data showed a slower growth last month. It is compelled the RBI to cut the interest rates. But, rates cut is not easy for RBI in this financially hard time. It may create uncertainty in Indian economy.
Besides, China's bad manufacturing data makes a negative impact on Asian market. These all factors may pull the market down.
GOOD LUCK.....
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