Tuesday, November 6, 2012

S&P CNX Nifty for 7 November 2012.

The markets yesterday did exhibit that the bullish structure is intact. If the Nifty stays above the 5717 mark today and the resistance which is at 5729 is conclusively conquered then fresh longs will be built in the market which might lead Nifty towards 5815.
However, if it does not trade conclusively above the tipping point then the immediate support is at 5707 and then at 5699.
Our outlook for today is of continued optimism amidst a little slowing down of the momentum, as compared to earlier up surge.

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