Wednesday, February 13, 2013

S&P CNX Nifty for 14 February 2013.

The benchmark index faced resistance at 5969 which was a shade above our predicted resistance at 5968 in our last post but then market behaved quite in expected lines by giving up almost all gains.
The tipping point for today is at 5942 with immediate resistances at 5934, 5942 and 5953.
On the flip side the immediate supports are at 5924, 5918 and 5902. Below 5902, the Nifty will turn weak and may slide further to 5895 and 5830.
Our outlook for the day is of continued weakness with selling pressure mounting on every spike up north.

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