Equity / Stocks - Nifty Trend-29/10/2012 in MARKETS - Benchmark Indices again for the third consecutive week closed around their key resistance levels and ended in an indecisive manner. ...
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10-29-2012 02:42 PM
Nifty Trend-29/10/2012
Benchmark Indices again for the third consecutive week closed around their key resistance levels and ended in an indecisive manner. Nifty future ended around its crucial level of 5700. A positive breakout from this consolidation may occur in the coming sessions and nifty needs to sustain above 5750 to lead towards a short bull rally where it will find 5820 as immediate resistance. On lower side, 5665 is seen as major support and next support is at 5630.
TREND: SIDEWAYS
SUPPORT : 5665 & 5630
RESISTANCE: 5750 & 5820
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10-29-2012 03:05 PM
RBI Policy decision will be a important event tomorrow ... If Nifty crosses 5720, a new rally will start and should continue through November series ...
Cheers!
Mani
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10-31-2012 02:10 PM
Stock Tips Equity Tips
Markets weighed down largely over 1% due to disappointing half yearly RBI monetary policy as it kept the rates unchanged. Nifty future after finding resistance around 5730 had a free fall towards 5600 and found strong support around this key support level. Finally, it broke its consolidation range and closed below the lower range support of 5640 indicating mere weakness in the coming session. 5580 is seen as immediate support surpassing which 5530 is next support for it.
TREND: SIDEWAYS
SUPPORT : 5580 & 5530
RESISTANCE: 5680 & 5730
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