All trends are down and Nifty traded between 4946-5230 during last 7 sessions after 93 Points(5323-5230) gap down opening on 05-08-2011. Good selling between 5080-5225 during 7 previous sessions therefore this range is resistance and market require complete consolidation to cross it. Last minor support of last 7 days is between 4980-5020 and sustaining below 4980 will mean failure 7 days range and more down moves will be seen.
Most of the Asian markets are trading in negative zone today after US markets Red closing yesterday therefore sentiment is depressed today morning and Indian markets will firstly trade near about last support range(4980-5020). As Union Govt. is in turmoil due country wide agitation after Anna Hazare arrest therefore sentiment is depressed and slipping below 4980 will mean sharp fall possibility also.
Negative closing after weak opening expected today.
Most of the Asian markets are trading in negative zone today after US markets Red closing yesterday therefore sentiment is depressed today morning and Indian markets will firstly trade near about last support range(4980-5020). As Union Govt. is in turmoil due country wide agitation after Anna Hazare arrest therefore sentiment is depressed and slipping below 4980 will mean sharp fall possibility also.
Negative closing after weak opening expected today.