Tuesday, February 5, 2013

S&P CNX Nifty for 8 February 2013.

The market seems to have taken a breather amidst increasing supply. The resistance is at 5970 and then at 5983. However the short covering will kick in only above 6016 and bulls will return only if it trades above 6038.
The 5896 mark should act as stronger support which if broken will see Nifty change its trend and fresh shorts will be built in.
Our outlook for the day is continued weakness and consolidation at lower levels.

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