Global Weakness on A/c of Eurozone problems & Bad US Economic Data dettered chances of any meaningful pullback in Nifty which could have resulted in a cross-over above 5600 levels.
Markets are still in a consolidation phase & possiblity of an extended pullback leading to cross-over above 5625 levels would hold good till Nifty trades above 5380.
Upcoming EGOM meeting on Thursday (w.r.t Diesel prices) & IIP data to be announced on Friday along with progress of Monsoonwould be key triggers in the Next Week.
Yahoo Online Support : Marketview@ymail.com
Markets are still in a consolidation phase & possiblity of an extended pullback leading to cross-over above 5625 levels would hold good till Nifty trades above 5380.
Upcoming EGOM meeting on Thursday (w.r.t Diesel prices) & IIP data to be announced on Friday along with progress of Monsoonwould be key triggers in the Next Week.
Going Forward,
Nifty Fut will face stiff resistance @ 5589-5609 levels crossing & sustaining abv which further Momentum would lead to 5719 & 5824.
But, If fails to cross & sustain abv 5609, Will be in a trading range 5380-5609.
Strong support lies @ 5381-5386.
If breaks & closes below 5380, it may touch 5261 & 5189.
Nifty Fut will face stiff resistance @ 5589-5609 levels crossing & sustaining abv which further Momentum would lead to 5719 & 5824.
But, If fails to cross & sustain abv 5609, Will be in a trading range 5380-5609.
Strong support lies @ 5381-5386.
If breaks & closes below 5380, it may touch 5261 & 5189.
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Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions.
As equity traders/Advisors We, our relatives and friends may have position in the stocks suggested by us. We are individuals and dont belong to any brokerage house or company. All Recommendations are based on technical and/or fundamental analysis and/or Personal observations.
Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions.
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