NIFTY TREND FOR 16/03/2012
Major Resistance Levels : 5300-5374-5422
Major Support Levels : 5140-5092-5018
Short / Middle Term Target : 4950-5010
Nifty is bearish below 5252. Please avoid long ( buying ) positions on Monday.
USDINR APRIL TREND
Major Resistance Levels : 51.61-51.75-51.83
Major Support Levels : 51.39-51.31-51.17
Nifty ( Closing ) : 5207.45
Nifty lost 69 points today. INFOSYS gave the lower-than-expected guide at 8-10% ( in dollars ). It pulled 13% INFY down and it was the top most loser in NSE. It affected IT sector as well as IT index.
All the major Indian Petroleum Companies assert for increase oil prices as they bear heavy loss each month. The companies vehemently argue that lower price and subsidies stop them from running the business. A leading oil company, Indian Oil Corporation claims for hike of 8 rupees to Petrol. It may bring uncertainty in the Indian market and economy.
GOOD LUCK.....
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