Tuesday, April 16, 2013

S&P CNX Nifty for 17 April 2013.

The tipping point for today is at 5648 with the resistances at 5717, 5766 and 5782. On the flip side the supports are at 5652, 5623 and 5614.
The market did manage to hold above 5557.5, and so it saw a bullish move up north. It closed in a rather optimistic note. However, the market cannot be concluded to have reversed it's recent down trend unless and until it conclusively closes above the 5717 mark today and above 5870 in successive sessions. Traders on long side are advised to ride the trend with 5576 as stop loss.

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