Thursday, August 12, 2010

Market ends Flat after Recovery: Nifty Might touch 5500 Soon

 Nifty made the strong come back from the lower levels, as we already mention in our previous report that technically the bounce back looking possible in it. Today overall it was again positive session. One may expect that the up trend would be continuing in the market & we might see the 5500 mark soon. For trading we already recommend buy on dips until it close below 5350 for the targets of 5500, 5550.

  Sensex bounce from the lower levels today & in the end made the flat closing. the next resistance for Sensex seems to be in the zone of 18300 to 18350. Decisive closing above this resistance zone may lead it towards the levels of 18800 to 18850 in near run. Technically we might see some upside consolidation in Sensex in upcoming trading sessions.

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Posted By Commodity MCX Tips