Global Weakness on A/C of uncertainty over Greece Bail-Out & Bad US Economic Data dettered chances of any meaningful pullback in Nifty which could have resulted in a cross-over above 5050 levels as Selling pressure is witnessed from higher levels.
Negative News-Flow from the political front as well as High Inflation Numbers have added to the woes.
Higher Trade Deficit numbers announced on Friday may negatively impact our Markets going Forward.
On the Global Front, US Fed Chairman Ben Bernanke will testify regarding America's Economic Outlook as well as Financial Markets on 4th October and his comments may determine short term trend for Global Markets.
Nifty Future faces critical resistance around 5039-5056 area.
Further Pullback upto 5198/5324 would be witnessed only if 5056 is crossed & Nifty Fut closes above it.
If fails to cross abv 5056, will be in a trading range 4819-5056.
Strong Support lies @ 4821-4826 & Selling Pressure would intensify upto 4724/4639 if Nifty Fut breaches & closes below 4819.
Regards,
Team Market View Investments.
Mo : 9987750901.
Visit www.mktviews-nifty50.blogspot.com
Team Market View Investments.
Mo : 9987750901.
Visit www.mktviews-nifty50.blogspot.com
Yahoo Online Support : Marketview@ymail.com
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