NIFTY TREND FOR 22-05-2012
Major Resistance Levels : 4946-4976-4999
Major Support Levels : 4869-4844-4816
Nifty may move to 5100-5150 range on short / middle term basis.
Nifty ( Closing ) : 4906.05
Nifty opened steadily and it made many irregular movements before closing. It closed with mild gain of 0.30%. European and Asian markets showed a steady opening. It tempted Indian markets to open on a flat note.
In the closing session, Indian Rupees were in a horrible stage. It showed all time low at 54.89 against dollar. The depreciation of Indian Rupees became a major and unfavourable happening for Indian markets. Indian Finance Minister, Mr. Pranab Mukherjee shared worries regarding continuous depreciation of Rupees yesterday. But, a mere comment of worries is not enough from Finance Minister. They have to make sufficient intervention to tackle this severe problem. RBI also is responsible in this matter. Hopefully, this crisis will be eliminated by reasonable approach.
GOOD LUCK........
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