Indian markets performed well during this week, and both indices (Nifty & Sensex) was up 1.6%. Lingering uncertainties over the Eurozone debt crisis coupled with trepidation about slowdown in the US and China continued to act as overhang on the Indian markets. Market may remain bearish in next trading days until Nifty trades above 5050 and manages to sustain above this level.
While commenting on Nifty Outlook for Monday it has strong resistance at 4985-5050. Any fresh buying position should be initiated above 4965 levels for targeting 5000-5030 On the downside Nifty may find support around 4900-4855 levels. Traders are advised to trade cautiously.
While commenting on Nifty Outlook for Monday it has strong resistance at 4985-5050. Any fresh buying position should be initiated above 4965 levels for targeting 5000-5030 On the downside Nifty may find support around 4900-4855 levels. Traders are advised to trade cautiously.
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