nifty trends outlook march 19 2012

nifty trends outlook march 19 2012 : The market closed flat with a negative bias as the status quo by the Reserve Bank of India (RBI) by keeping key rates unchanged and the budget, which estimated a higher fiscal deficit for the next fiscal and a hike in service tax, put off investors.

The Sensex closed 37 points (0.21%) lower at 17,466 and the Nifty ended the week at 5,318, down 16 points or 0.29%. Friday's market move was one of the signs of increasing pressure for selling. If the bulls don't make a comeback from the current level, we may Nifty headed towards 5,195.

The RBI's CRR cut on Friday saw a positive opening on Monday but nervousness ahead of the Union Budget resulted in the market closing with modest gains. Sustained buying by institutional investors and a positive global trend led the market higher on Tuesday. A rise in headline inflation for February overshadowed the Railway Budget leading to a positive close, but with a diminishing strength.

Nifty Futures Tips March 19 2012
* BUY for 6% gain in 2 week: YES Bank Ltd. Future / 29 Mar Target: 390 | Stop loss: 360
* BUY for 8% gain in 2 week: Zee Entertainment Enterprises Ltd. Future / 29 Mar Target: 137

Nifty Technical Levels for march 19 2012 :
Pivot Level = 5356.0667 , Support1 = 5267.8333 Resistance1 = 5406.1333, Support2 = 5217.7667 Resistance2 = 5494.3667 , Support3 = 5129.5333 Resistance3 = 5544.4333

For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post: