Today we saw high voltatility in our markets. In the early session we saw Nifty and Sensex plunging down more then 2%. But recovered smartly in the end to close at 4530 inNifty and Sensex at 15240. As mentioned the nifty has a good resistance at 4538 and the close above the same will take the nifty to 4610, but unfortunately it closed below the same. IIP NO. for this fortnite were good at 7% versus 11.3% YoY. The April manufacturing growth came at 7.5% vs 12.4% YoY.
In the Nifty chart u may see that the Nifty is facing resistance at the trendline. Decisive breakout above the trendline can take Nifty up till 4610. In the yesterdays blog also i have mentioned that we will definately see a bounce back from this levels.
In the Nifty chart u may see that the Nifty is facing resistance at the trendline. Decisive breakout above the trendline can take Nifty up till 4610. In the yesterdays blog also i have mentioned that we will definately see a bounce back from this levels.
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