Wednesday, October 31, 2012

S&P CNX Nifty for 1 November 2012.

The support of 5584 did hold yesterday. The tipping point for today is at 5609. The immediate resistance is at 5622 and 5655.
On the flip side the immediate support is at 5612, 5605 and then at 5596. However, below 5584, the only support is at 5516.
Our outlook for today is of further weakness without further damage to the current trend of consolidation with a bullish bias.

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