NIFTY TREND FOR 20-04-2012
Major Resistance Levels : 5371-5393-5423
Major Support Levels : 5286-5252-5232
Short / Middle Term Target : 5190-5210
Nifty is at neutral zone now. Positions can be determined only after opening as per instructions.
Nifty ( Closing ) : 5232.40
Nifty increased 0.61% today. The market could absorb the strength from European market. Spain sold bonds for euro 2.54 billion in their auction. It was more than expected as the expectation were 2.5 billion. It helped to make European market as well as Indian market bullish today.
Nonetheless, Indian economy worries regarding the depreciation of national currency. Indian rupees touched its three months low today. It closed 51.92/93. So, long term investment is not safe nowadays.
GOOD LUCK.....
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