MAJOR RESISTANCE LEVELS: 5810-5868-5903
MAJOR SUPPORT LEVELS : 5733-5698-5640
There was a blood shower in Indian markets. Nifty lost 63 points (1.60%) yesterday.
We proudly declares that our Middle Term Target has been achieved yesterday. It was given on December 7th, 2012 ( Ref: NIFTY TODAY: EPISODE 177) when Nifty was closed at 5907. After that, Nifty showed high at 6111.8 on January 29, 2013. But, still we gave our Middle Term Target at 5760-5790 range continuously. Finally, it achieved yesterday within 3 months.
Nifty (closing): 5761.35
Nifty is at neutral status now. It may show some correction for yesterday's heavy fall. Sometimes, it will be stable with this range ( less fluctuation) as it achieved a major middle term target. So, both long and short positions should be taken carefully.
MACD and Stochastics depicts a bearish market. RSI indicates neutral market. Middle Bollinger Band stands at 5924 and Lower Bollinger Band at 5792.
Asian and European markets closed in red due to Italian election worries. US markets closed steadily. Brent Crude prices decreased. Rupees showed weak trend against Dollars.
India VIX closed at 17.36 with 3.77% increase.
GOOD LUCK...................
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