25 July 2013

On the Indian Stock Market

The settlement blues did indeed take the market down and the only take away from yesterday was that as the key support of 5980 did not get compromised, we can safely assume that the bullish undertone is still intact.
The outlook for today depends mostly on which side of the 6000 mark the Nifty trades. In case it trades above 6000 then the resistances are at 6012, 6043 and 6084.
Below 600 the support is at  5978 which if taken out will see further erosion to 5952 and 5913.
Mid term investors may bid the key stocks as we had specified in our earlier posts.

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