NIFTY TREND FOR 09-06-2012
Major Resistance Levels : 5343-5362-5385
Major Support Levels : 5286-5260-5244
Nifty is still at neutral zone even after a week. Indian markets wait for quarter results eagerly.
Nifty ( Closing ) : 5316.95
Indian markets made some special and peculiar way of performance last week.
It has happened very rarely in the past that nifty moved in a very small range ( 30-40 points ) in the whole week. But, market didnt draw remarkable less volume.
Moreover, FIIs were buyers in cash sector and DIIs were sellers last week. FIIs bought for 2333 Cr and DIIs sold for 1575 Cr.
Finally, Indian markets showed an independent nature. So many incidents have been happened last week internally as well as externally such as fluctuation of Indian Rupees, Worries regarding the availability of monsoon, interest rate cut by ECB, global markets movements and so on. Nevertheless, nothing could make positive or negative impacts on Indian markets.
Market is about to make a big move. Indices remain at crucial levels now. If it takes strength from here, Nifty may move towards 5400-5430 . Otherwise, it may touch 4880-4915 range.
GOOD LUCK........
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