NIFTY TREND FOR 02-07-2012
Major Resistance Levels : 5326-5361-5423
Major Support Levels : 5204-5139-5104
Nifty may open above 5210 on Monday. After that, market moves should be watched closely for further trading.
Nifty touched upper Bollinger Band and its a crucial period now. If it takes strength again from here, Nifty may move towards 5400-5430 range in short / middle term. If it loses its strength, it may go towards 4880-4915 range in short / middle term. Anyway, traders can invest their fund partially at this period.
Clarity in General Anti Avoidance Rules ( GAAR ) helped to the flow of fund from overseas. Government decided to give concession on P - Notes ( Participatory Notes ) .
Bullish trend of European markets on Friday could make positive feeling in national markets too.
FIIs made net amount of 3046.76 Cr. last session. It is a remarkable figure to note and shows interest of FIIs in Indian markets.
Moreover, Indian Rupees could make a better gain on Friday. It closed at 55.67 where as previous closing rate was 56.80.
Anyway, its a crucial level as a shaft for Indian markets. It is advisable for a partial investment funding in Indian markets.
GOOD LUCK........
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