Hello,
Nifty on the back of the strength in US futures / Europe finally moved out of the small range it had been contained to for the last few sessions. While Nifty did try to break the 5300 resistance it was unable to do so and closed a bit below the said level confirming for us once again the strength of the resistance. Overnight US Markets too failed to hold onto the gains and while it did close positive, as of now, US futures are negative and with Asia too opening negative a weak opening seems to be on the cards for our markets. Market Breadth was slightly positive with 798 winners and 519 losers.
Nifty for today has resistances at 5300 and thereafter at 5335 - 5340 which is the level to break if we are to see a sharp upmove from this level. On the lower side, supports come in at 5250 , 5205 and 5150.
Regards
Prashanth
Mythri Stocks & Shares Pvt Ltd.,
No comments:
Post a Comment