MAJOR RESISTANCE LEVELS: 5939-5982-6012
MAJOR SUPPORT LEVELS : 5880-5847-5808
MIDDLE TERM TARGET : 5760-5790
Nifty opened steadily on Friday and it got big fall afternoon. Finally, it closed with 0.59% loss. Cement Stocks faced selling pressure last trading session.
Nifty ( closing ): 5903.50
Nifty is at bearish zone. So, long positions should be taken carefully today.
Nifty closed below Lower Bollinger Band Level, 5921 on Friday. Middle Bollinger Band lies at 6021 level. MACD indicates bearish trend. RSI turned into 'over sold' region. It implies that there is a chance for buying ( bullish trend ). Stochastic shows a neutral trend, while, Moving Averages depicts bullish trend on long run.
CSO predicted a growth rate at 5% on Indian economy this fiscal. But, Indian Finance Minister, P. Chidambaram expressed his worries regarding this forecasting. He asserted a growth prediction at 5.5% for the economy.
Most of the major global indices closed in green last day except NIKKIE. It declined 1.81% on Friday. NIKKIE was the leader of the leap in share markets from Asia these days. If NIKKIE faces a correction, it may affect all the markets especially, Asian markets.
India VIX closed at 15.16 with 1.8% increase.
GOOD LUCK...............
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