(Updated on 11-05-2012 Time 08.50 AM)
One more session full of volatility.
Market could not clear hurdles at 5020-5035
decisively which we mentioned in our previous post.
We also told that any failure to sustain this barrier would make
sentiment even bearish. As a result of which Nifty spot
dipped even lower to 4950. We stick to our yesterday’s lower
levels 4967-4951-4927 which lent good support and likely to continue
to fuel hope for bulls. Sustained trading above 4989-5000 area may drive it to 5035.
Consecutive two closing above 5040 will ignite a relief rally up to 5106-5129
4910-4876 in a panic sell off may not be ruled out.