NIFTY TREND FOR 26-07-2012
Major Resistance Levels : 5135-5157-5183
Major Support Levels : 5078-5049-5030
RSI chart shows neutral value. MACD indicates bearish market. Nifty closed just above Bollinger lower band level, 5100. Besides, 50 days moving average is marked at 5098 level. Nifty is bearish for long term basis. But, nifty may get good support at 5078 level and close above 5100 tomorrow. Of course, there will be some levels of uncertainty as F & O settlement date comes tomorrow.
Nifty ( Closing ) : 5109.60
Though Nifty came down till 5076.60, it could get good support at 5100 level and close above the level. It was predicted yesterday. HCLTECH was the top gainer in NSE due to its good result which has been already declared.
Worries regarding weak monsoon and European crisis can make negative impact on Indian markets. Moreover, everybody waits for rate policy by RBI. It will be announced on 31st July.
GOOD LUCK.........
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