Till yesterday markets contiuned its awesome performance by closing for the 6th consecutive session in the green. Nifty yesterday cracked the 4500 mark and Sensex closed above 15000 levels. But as the rally has been too short and too fast, and the Nifty chart facing resistance at 4500 levels, there had to be some stoppage for the rally. Traders seen booking profits at higher levels. Markets opened up week. Remained in the negative zone for the rest of the day. Nifty closed down by 41 points to 4461. Nifty made a Intra day low of 4436 and high of 4524. Nifty will continously face selling pressure at the -4530 levels as mentioned in my earlier blog. Nifty will find support at 4450-4405 levels.
Tuesday, July 21, 2009
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Till yesterday markets contiuned its awesome performance by closing for the 6th consecutive session in the green. Nifty yesterday cracked the 4500 mark and Sensex closed above 15000 levels. But as the rally has been too short and too fast, and the Nifty chart facing resistance at 4500 levels, there had to be some stoppage for the rally. Traders seen booking profits at higher levels. Markets opened up week. Remained in the negative zone for the rest of the day. Nifty closed down by 41 points to 4461. Nifty made a Intra day low of 4436 and high of 4524. Nifty will continously face selling pressure at the -4530 levels as mentioned in my earlier blog. Nifty will find support at 4450-4405 levels.
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