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Indian Stock Market Trend Today

Discussion in 'Forex Daily News & Outlook' started by honeyks, Jul 8, 2010.

  1. honeyks

    honeyks New Member

    Feb 26, 2010
    Likes Received:
    In today and tomorrow no change except reversal of sentiment due to global cues therefore in continuation of yesterday outlook it has to be emphasised that 5230 is proving stronger support because it was not broken yesterday despite completely subdued global sentiment and sharp last hours fall in Indian markets. Until complete selling patterns does not develop till then its breaking possibility can never be imagined.

    I am non stop telling only for crossing 5400 and new top formations. After watching good support formation near 5230 it is very much expected that Nifty will counter yesterday mentioned resistance ranges in the coming sessions and now consolidations above 5300 will be seen.


    US and European markets yesterday rally developed after lower levels consolidations and base formations therefore positive news should be expected from there also except minor corrections. In fact crucial resistance range is now 5320-5365 and after its break out no resistance above will work and levels above 5400 will be seen after minor consolidations.

    Easily clear all positive moves today. Firstly trading near 5300 and after that upmoves expected either today or tomorrow.

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