Thursday, February 28, 2013

S&P CNX Nifty for 1 March 2013.

As we have been suggesting for the past few days the market was indeed weak and in spite of occasional upsides supply pressure did bring it down.
The tipping point for the day is at 5739 and market must trade above this point for any hope after overcoming the immediate resistance of 5714.
On the flip side, now that the support of 5698 has already been broken, it may slide towards 5600 and thereafter to 5542.One might as well trade with pessimistic bias.

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