NIFTY TREND FOR 25-07-2012
Major Resistance Levels : 5153-5175-5197
Major Support Levels : 5100-5075-5056
Nifty closed at an exact neural zone today. MACD shows bearish signal. RSI chart depicts neutral level. Next, nifty closed just above the lower band of the Bollinger band. It indicates good support this level. Anyway, Indian markets are bearish on long term basis. But, nifty may get good support at 3100 and can be expected a slightly bullish market tomorrow. Nevertheless, F & O settlement can make any impact on the market.
Nifty ( Closing ) : 5128.20
As we expected yesterday, Nifty could get support today. European markets closed with loss of 0.50-0.75%. Global markets are tensed about the crisis in Europe.
In cash segment, FIIs made net selling for around ₹253 Crs., while, DIIs marked net buying for ₹39 Crs. FIIs drew net selling figure on 28th June at ₹1112.63 Crs. The very next day, they bought for ₹3047 Crs. From that day, FIIs havent marked net selling figure till yesterday. On the other hand, DIIs have never made a net buying figure after 28th June. FIIs began buying from 5150 continuously and could bring 5340 level. During the same period, DIIs were selling in cash segment and brought nifty at 5100 level.
GOOD LUCK........
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