Saturday, March 17, 2012

S&P CNX Nifty for the week 19th March 2012 to 23rd March 2012.

The immediate support of nifty is at 5295. However, the stop loss for trades on long side will get triggered if the market trades for protracted period below 5295 and  then breaks the 5210 level in which case a short term bearish trend might resume. Otherwise we are at the bottom of the trading range. On the flip side, the immediate resistance  is at 5350. In case market trades above 5425 in the first few trading sessions next week then we may see another spike up like in the week gone by. 5650 or thereabouts should continue to be the upper end of the trading range.

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