NIFTY TREND FOR 19-04-2012
Major Resistance Levels : 5350-5381-5399
Major Support Levels : 5266-5244-5214
Short / Middle Term Target : 5190-5210
Nifty is strongly bearish below 5328. Since, long ( buying ) positions should be taken only after getting instruction.
Our intraday tip, NIFTY FUTURES achieved first target today with 26 points profit. While considering of our resistance-support levels, the day's high were our first resistance level exactly.
Nifty ( Closing ) : 5300
Nifty closed on a flat note today with 0.19% increase.
The major reason for bearish market of last trading session was from European market. Especially, there was some problems related to the difference between the borrowing expenses and the quality of assets offered in Spain.
Depreciation of Indian Rupees also pull the market down today. INR lost 31 paise today and dollar closed at 51.79.
As the market is bearish, traders must be careful in long positions.
GOOD LUCK....
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