Saturday, November 26, 2011

Nifty Levels for Next Week

10 out of last 12 trading sessions were ended in red mark on the back of Euro zone concern and sharp decline in Indian rupee against dollar. Nifty lost 4% during the week and made a 2 year low of 4639.10.
On Friday also market traded with negative bias but due to traders lack of interest, it did not collapsed like the other day. The market is in oversold position again which indicates that the Monday could bring some positiveness in the market.
Technically Nifty is looking weak technically in weekly chart. It is not sustaining and any higher levels if 4630 levels is broken decisively, it indicate that the Nifty can hit 4,500 levels. This is not expected that rally to pause at 4500 levels on the Nifty. so next support comes at 4475, whereas at upside major hurdles comes at 4850 and trader be caution for next week

You might also looking for-


Posted By Commodity MCX Tips