NIFTY TREND FOR 24-04-2012
Major Resistance Levels : 5295-5376-5422
Major Support Levels : 5137-5088-5012
Nifty is strongly bearish below 5251. Long ( buying ) positions is advisable only after giving instructions.
Nifty ( Closing ) : 5200.60
Indian markets showed a virtual blood bath today. Nifty lost 90 points last session. Our Short / Middle Term Target triggered in the closing. It was predicted from 4th April ( Ref : NIFTY TODAY : EPISODE 87 ). Apart from that, Nifty got good support at our First Weekly Support Level as well as Second Support Level.
RPOWER, RCOM & RELINFRA were the top losers in NSE and they lost 6.08%, 5.80% & 5.59% respectively.
European markets opened with a marginal downward gap of 1%. It conveyed weakness towards Indian market too.
Besides, Indian Rupees showed weak trend against dollar. It lost .37 paise ( .71% ) and closed at 52.45. This continuous depreciation of Indian Rupees pull the markets down.
Over and above, the charts justifies this fall and it was clearly predicted before.
GOOD LUCK.....
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