Its seems that the markets were opened only for the PSU stocks. I really do not remember the last time when the Govt owned companies had this kind of fantastic rally. Mostly all the PSU stocks were locked in the upper circuit. others which were not locked, they were up nearly5%. But the markets reacted opposite. Since last week, the markets are closing with marginally gains or marginally low. As mentioned in my last few articles the nifty is facing stiff resistance at 5300 levels. Today Nifty made a high of 5287.80, but closed down deep in red at 5224 losing nearly 50 points from yesterdays close. We can clearly see that the Nifty is facing resistance at the 5300 levels. This time the markets should surely come down. Nifty will find support at 5170 levels. close below the same can take the Nifty to 5050 levels. Nifty trading in a very narrow range. Breakout either way will be too fast and too sharp. MACD too showing weakness. Selected Midcap continued their dream run.
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