NIFTY TREND FOR 23-04-2012
Major Resistance Levels : 5339-5370-5408
Major Support Levels : 5234-5196-5165
Short / Middle Term Target : 5190-5210
Market closed at a neutral zone on Friday with 41 points.But, external factors may bring market downward. So, positions should be taken only after getting instructions.
Nifty ( Closing ) : 5290.85
US-Economic Data were lower-than-expected which was published on Thursday. It pulled the world market down. Naturally, Indian markets also lost near 1%.
Besides, UBS downgraded Indian equities. It affected all Asian markets except Chinese and Hong Kong markets. In this context,they might be substituted for Indian market.
Apart from that, depreciation of Indian rupees brings worries into Indian markets. It closed at 52.18 on Friday. So, traders should be vigilant on long positions.
GOOD LUCK......
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