Finally the Nifty hit the 5000 mark. But closed below at 4948.60 down by just 9 points. Markets in the opening session showed strength, but lost it after the mid session. Sensex which was trading higher at almost 130-140 points slipped down to the negative territory. Reliance Ind share price was in constant pressure since morning, even after the block deal in the counter. Tata Steel which was trading higher, too slipped in the red.
As mentioned in my earlier blog that the Nifty will face resistance at 4969 levels and the close above the same will mark a new high for the 2009. Nifty next resistance levels were also mentioned. 4987- 5013 levels. Today Nifty made a new high for current year 2009, at 5003 levels, but could manage the continue its winning streak further. Nifty closed marginally down by 9 points at 4948.60. On Tuesday, Nifty had given a breakout above the trendline. Yesterday the rally continued, but today the markets opened up strong but slipped into red. Nifty will find big resistance at 4991-5015 levels.
No comments:
Post a Comment