NIFTY TREND FOR 08-08-2012
Major Resistance Levels : 5368-5397-5439
Major Support Levels : 5291-5247-5220
MACD reveals that Nifty is on bullish trend. But, RSI shows a neutral level. Anyway, Nifty will face strong resistance at 5368, our first resistance level tomorrow. Besides, there is very less chance to close above 5362, Bollinger Upper Band tomorrow.
Nifty ( Closing ) : 5336.70
Nifty closed with around 1% gain today. TATAMOTOR was the top gainer in NSE with 4.15% increase. Most of the major global indices were in green today. It helped Indian markets to keep on upward move.
Moreover, Finance Minister, P. Chidambaram declared that India will focus on seducing fiscal deficits as well as special considerations for the overseas investors in taxation. It helped to collect net buy of ₹816 Crs. in cash segment.
On the other hand, lack of monsoon is being a problem on agricultural sector, the back bone of Indian economy.
GOOD LUCK........
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