NIFTY TREND FOR 07-08-2012
Major Resistance Levels : 5300-5317-5335
Major Support Levels : 5259-5239-5224
Nifty closed at around middle part of Bollinger upper and middle bands. It may get strong support at Bollinger lower band level, 5215. Also, it may reach up to Bollinger upper band level, 5365 on short term basis. MACD indicates a bullish market, while, RSI shows neutral market.
Nifty ( Closing ) : 5282.55
Indian markets opened with a good positive gap due to global cues. When Indian markets opened, all the major global markets were in green.
Among the stocks, RELIANCE showed a strong performance today. It closed with a gain of 5.5%. But, IT stocks showed weak tendency today. Anyway, among the IT stocks, WIPRO is about to make big move soon. It may move 380-410 range in this settlement.
GOOD LUCK..........
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