NIFTY TREND FOR 04-05-2012
Nifty Major Resistance : 5226-5249-5263
Major Support Levels : 5156-5139-5118
Nifty again closed at neutral zone after last trading session. It moves close to our short / middle term target 5140-5150 range. Positions are advisable only after giving instructions tomorrow.
Nifty ( Closing ) : 5188.40
Nifty opened with a wide negative gap today. After the opening session, it showed sideways moves with a small range of 36 points.
HEROMOTOCO reported less earning and became top loser among the NSE top losers. It could maintain some negative impact whole over the trading hours.
Besides, Indian Rupees touched its lowest value against dollar for 4 months.
Moreover, US and European markets showed vulnerability due to their weak economic data. These global cues made depression in Indian markets too.
GOOD LUCK......
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