NIFTY TODAY : EPISODE 92

NIFTY TREND FOR 26/04/2012

Major Resistance Levels : 5254-5293-5332
Major Support Levels : 5145-5104-5070

Nifty closed at exact neutral zone. It couldn't make any direction after reaching our 'short/ middle term target'. After a specific move, its quiet normal to make some irregular and small moves until taking another direction. But, it is the time for futures and option closing period. So, market may make some quick and unexpected movements as it has no any specific direction for the time. Hence, positions are advisable only after getting instructions tomorrow.

Nifty ( Closing ) : 5202

Though Nifty showed high-low difference of 75points, it closed with just increase of 20points. Market showed some irregular and sideways movements today. It was not good for intraday trade today.

European zone is waiting for election results from France and Greece. It brings political uncertainty up to some extends in the region. Thus, the traders are confused regarding fresh investment in the markets. This may affect Indian markets too.

Moreover, 'Standard & Poor' revised India's rating from stable to negative in the long running. It may stop FIIs from further investment. Consequently, negative growth may be seen in both economy and stock market. Nonetheless, it is a real fact that India shows a steady growth in the past. Investors have less number of markets for safe investment. Thus, they may turn into Indian market as it comparatively cheap and stable one.

GOOD LUCK