NIFTY TREND FOR 03-08-2012
Major Resistance Levels : 5243-5258-5273
Major Support Levels : 5208-5190-5178
Nifty closed again just above the Bollinger middle band. RSI signal depicts neutral trend for Nifty. The time is already over for forming a one sided move in Indian markets. Most probably, it will happen tomorrow.
Nifty ( Closing ) : 5227.75
Nifty made so many insignificant and random movements today. But, nifty could not come into positive zone today. Market volume was also less today.
ECB decided to keep the rates same. Also, they planned to evaluate inflation and growth risks. Now, everybody looks curiously towards their policy regarding Spain. Will Spain get support from ECB?
Though monsoon creates worries in Indian markets, everyone looks hopefully the placement of Mr. P. Chidamparam as Finance Minister. Traders think that he is able to tackle all the existing problems and he may bring a panacea for the present situation. Anyway, some urgent action should be taken by him as soon as possible.
GOOD LUCK.......
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