Wednesday, February 16, 2011

Nifty - Technical pullback

Nifty is finding resistance @ 5500 levels which was earlier a key support level. I believe the current technical pullback from 5173 level is losing steam now. It may on the upper side, reach 5550 levels which is the next resistance level if Nifty manages to close above 5500.

Any subsequent movement would be determined by the budget followed by the big movement during the results season.

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