Thursday, April 11, 2013

S&P CNX Nifty for 12 April 2013.

The tipping point for the day is at 5582 with immediate resistance at 5624, 5648 and 5665. On the flip side the immediate support is at 5585, 5568 and 5528. If 5528 is broken then all gain of last two sessions will be lost.
Our outlook continues to be negative as long as the benchmark index does not conclusively hold above 5665 with good volumes and also on closing basis. Otherwise we are not out of the woods. Traders may ride longs with 5560 as stop loss.

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