NIFTY TREND FOR 20-07-2012
Major Resistance Levels : 5264-5279-5292
Major Support Levels : 5225-5210-5197
Nifty closed at an exact neural zone ( middle band range of the Bollinger band ) . The correction has been occurred with last two days. The market range was too small today. Nifty made a difference of 24 points only between the high, 5257 & the low, 5233. Most probably, nifty may make a specific direction tomorrow. We have to watch them carefully with the range, angle formation , volume and so on.
Nifty ( Closing ) : 5242.70
Nifty opened with a positive gap in the morning due to global cues. But, it couldn't get further gain due to the bad performance of MARUTI and banking stocks.
MARUTI was the biggest loser of the day. It closed with 9.19% loss today related to the news regarding wage disputes in Manesar plant. Besides, most of the banking stocks were included in the list of NSE top losers. Thus, Indian markets couldn't move along with the movements of global markets.
FIIs invested 126 Cr in cash segment today where DII made -229 Cr.
Anyway, markets may get a clear direction tomorrow either upward or downward.
GOOD LUCK.........
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