Wednesday, April 17, 2013

S&P CNX Nifty for 18 April 2013.

The tipping point for the day is at 5697 with immediate supports at 5686, 5677 and 5643. The immediate resistances are at 5696, 5703 and 5719.
Our outlook for today is a bit more of cautious optimism as market will remain closed tomorrow. Traders riding longs may trade safe by raising their stop loss to 5589. The buying spree and short covering may take the market up to the 5871 mark in the next few trading session if the 5719 mark is conquered conclusively with good volumes. 5871 mark will decide the future trend i.e. whether the market will resume its earlier bullish trend or consolidate.

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