Thursday, March 17, 2011

Support and resistance for nifty on 18 march 2011 | Stock market news daily on mobile


Nifty Outlook
Trend: - Consolidate
Resistance: - 5490 , 5560
Support: - 5410,  5300
Strategy: - Sell on highs
 Bank Nifty outlook
Trend: - Consolidate
Resistance: - 11050 11300
Support: - 10780, 10610
Strategy: - Sell on highs
Indian equity market down 1.20%, Nifty down 65 pts & Sensex down 208 pts.
RBI raised repo & reverse repo rate by 25 bps to 6.75% & 5.75% respectively.
European markets were in green with DAX leading, Dow future was up 80 pts.
Indian equity market ended down post RBI policy & rising crude oil with Nifty losing 65 pts to end below 5450 at 5446 while Sensex ended down 208 pts to end near 18K at 18150. In Euro zone, DAX was up 100 pts, CAC - 51 pts & FTSE- 59 pts. Dow future was up 80 pts as jobless claims came down by 16k at 385k & Core CPI at 0.2 vs. 0.1%. 

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