Thursday 28 February 2013

NIFTY BANK NIFTY TRENDS FOR 28 FEB


MARKET WRAP

 Sensex raised 0.72% @ 19,152.41 pts; Nifty gained 0.62%@ 5,796.90 pts. 

 European major indices FTSE& CAC was up 1.15%; DAX was down 1.15%; 

 NASDAQ was up by 0.43% while Dow Jones Ind. Avg. was up by 0.84%. 

MARKET WAS IN GREEN MODE YESTERDAY TODAY WE EXPECT TO BE IN BEARISH MODE. THE NIFTY AND BANK NIFTY TRENDS FOR THE INTRADAY SEEMS TO BE IN BEARISH MODE WE EXPECT NIFTY TO TOUCH 5740 AND IF IT BREAKS FURTHER IT WILL MOVE TO 5680 FOR BANK NIFTY THE EXPECTED LEVEL DOWNSIDE IS 11660.


NIFTY OUTLOOK 

 Trend: - BEARISH 
 Resistance: - 5850, 5900 
 Support: - 5740, 5680 
 Strategy: - Buy on Dips









BANK NIFTY OUTLOOK 

 Trend: - BEARISH 
 Resistance: -12000, 12150 
 Support: -11800, 11660 
 Strategy: - Buy on Dips

Sensex gained 137.27@19,152.41; Nifty raised 35.55pts@5,796.90. Market showed two way movements & gained at last after announcement of Economic Survey for the current fiscal, WPI inflation is seen declining to 6.2-6.6 percent by March, which could create more room for rate cuts going ahead. ICICI Bank up over 2% while SBI was up 1.2 %. 

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