MAJOR RESISTANCE LEVELS: 5915-5932-5944
MAJOR SUPPORT LEVELS : 5890-5875-5960
Nifty showed an exact neutral trend as we predicted yesterday. It got good resistance at our second resistance level ( Ref: NIFTY TODAY: EPISODE 174).
5944 level will be crucial for Nifty today. It comes third resistance level as well as the peak level of Nifty in the first half of 2011 ( April 6, 2011). Nifty may get strong resistance at this level.
MACD indicates strong bullish trend when RSI shows 'oversold' status. All the global markets were in green except Nasdaq ( -0.77%). Apart from that, US Exim bank allowed credit for $2.1 billion to the Reliance Industries. This is able to make positive impact on Indian markets.
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