Nifty continued to hover around the 5200 mark through out the week before ending once again at an in-conclusive mark. The technical indicators of the market suggest that the market will continue to remain weak grinding slowly to the 4950 mark. On the flip side, however, if it somehow manages to hold above the 5280 mark conclusively, it may rally up to 5440. The market will remain closed on 1st May 2012.
Sunday, April 29, 2012
Sunday, April 22, 2012
The Nifty closed on a very inconclusive note on Friday at 5290.85. The technical indicators are mixed. MACD is suggesting an upside whereas the stochastics are indicating a downslide. 5230 will be the critical point where both the short term trend lines will converge. This support will be critical and decide the immediate term trend for this week is also the triple witching week.
Sunday, April 15, 2012
Nifty will have to trade consistently above 5260 in order to resume the bullish trend, otherwise it will continue to drift gradually south towards the crucial support of 4950.
Saturday, April 7, 2012
The outlook on USD-INR continues to be weak. The crucial support is at 51.7610 which if breached will see further weakness leading to flight of capital spiralling into an all out panic in other Capital markets. The immediate resistance is at 50.74 and then 49.6700.
The Nifty and the broad market were on bullish mode as Nifty managed to stay above the 5290 mark conclusively. The technicals of the market suggest that market may continue its upward journey to 5440 and beyond if it stays above the 5325 mark for longer period in the first few sessions. The immediate support is at 5285. Stop loss will get triggered around 5220 mark, in which case the market will give up all its recent gains and find support eventually at 4950.