NIFTY TREND FOR 24-08-2012
Major Resistance Levels : 5446-5477-5504
Major Support Levels : 5388-5360-5330
MACD reveals that a bullish trend may see tomorrow. But, RSI is at over bought region which means a bearish trend.
Most probably, Nifty may close in green tomorrow. If Nifty falls tomorrow, it may get good support at 5388.
Nifty ( Closing ) : 5415.35
Nifty closed on a flat note today. Though Nifty couldn't close in negative zone today ( just like we predicted yesterday), it could make an increase of 2.50 points only. IT stocks could perform well.
Worries regarding CAG report on coal block allocation echoed in the parliament for the third day today. It affected Indian markets too.
India VIX closed at 16.32 with 0.75% increase.
GOOD LUCK
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