GOOD MORNING!!!
YET ANOTHER STABLE DAY WHERE INDICES GOT OFF TO A GAP UP START AS LEADS FROM THE GLOBAL FRONT UNDERPINNED REGIONAL SENTIMENTS ALONG WITH THE MARGINAL DROP IN CRUDE OIL PRICES FILLIPED INVESTORS’ MOOD. INDICES TRADED IN A NARROW BAND THROUGH THE DAY’S TRADE AND HELD THE CRUCIAL SUPPORT LEVELS IN THE NIFTY FOR THE ENTIRE DAY EVEN THOUGH THERE WAS SUDDEN DECLINE IN THE AFTERNOON BUT SUSTAINED BUYING INTERESTS HAS LED THE INDICES TO CLOSE AT THE HIGHER HIGHS OF THE DAY, EVEN THOUGH THERE WAS AN INCLINE OF AROUND 50 POINTS IN NIFTY WITH BREADTH BEING POSITIVE THE VOLUMES IN THE NIFTY WERE THE LEAST SINCE 04 JAN 11.
TODAY MARKETS WOULD OPEN POSITIVE AND REMAIN IN POSITIVE TERITORRY, IF NIFTY OPENS ABOVE 5555 THEN LIKELY TO MOVE UP TO 5576 AND MOVE ABOVE THIS POINT WOULD TAKE NIFTY TO 5585 LEVELS, IF NIFTY TRADES ABOVE 5600 THEN LIKLEY TO MOVE UP BY ANOTHER 50 POINTS ELSE 5600 WOULD ACT AS TOUGH RESISTANCE. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5520 LEVELS LIKELY TO DECLINE TO 5500 LEVELS AND BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5465 LEVELS AND ANY TRADE BELOW 5450 WOULD WEAKEN THE MARKETS.
