NIFTY TREND FOR 27-04-2012
Major Resistance Levels : 5226-5250-5266
Major Support Levels : 5157-5138-5118
Nifty closed at exact neutral zone. It couldn't make any direction. Opening session may be steady tomorrow. After that, market has to make it's trend. As the trend is not yet formed, positions should be taken only after getting instructions.
Nifty ( Closing ) : 5189
It was the third consecutive day in which market made marginal move. The high-low range of the nifty constricted to 37 points today.
Due to slower economic growth & increasing budget deficit, Standard & Poor decreased their rating for India yesterday. Indian Finance Minister, Mr. Pranab asserted that India will decrease budget deficit and accelerate the growth. Anyway, it should be recognized that Indian economy is comparatively safe and stable. This rating may compel the government for making reforms. Mr. Pranab stated that government would welcome reforms by withstanding the problems.
GOOD LUCK.....
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