NIFTY TREND FOR 23-05-2012
Major Resistance Levels : 4941-5010-5049
Major Support Levels : 4807-4767-4698
Nifty ( Closing ) : 4860.50
Nifty started trade with a good positive gap of 50 points today as the most of Asian markets were up by 1% in the morning. It could withstand from a fall till noon. European markets also opened with strong position.
Nevertheless, the picture was turned after some time. Idian Rupees lost its strength steadily, since importers collected dollar in a huge quantity. They hurried to owe dollars before implementation of strict curb from government and RBI. It made Indian Rupees in a worst stage. Rupees recorded its all time low against dollar at 55.39.
Neither expression of worries from Indian Finance Minister nor consolations from RBI would make any impact on the trouble. It is the real time to perform their duties related to the stability of Indian economy.
GOOD LUCK.........
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