We had seen very strong recovery due to short-covering and finally Nifty futures once again closed at premium over the spot suggesting short-coverings. For Nifty 3483 and 3505 are the key resistance levels. If nifty can close above these levels atleast for “tomorrow” then we can expect further uptrrend, which will take nifty towards 3650. But if you are studying Dow, then it seems very difficult. Dow is losing its upward momentum anjd hopefully it may fall towards 7752 levels sooner than later.
The quarterly results are reasonably good in India, especially cement companies. ACC, Ultra Tech, come with very sound numbers.
In normal market conditions market may open with a firm note and is expected to trade higher towards the resistance levels: volatility may remain very high
As I mentioned earlier the time frame required to move above 3500 levels is only 1 day. If Nifty fails to move above this tomorrow, then there can be selling. So tomorrow is a very crucial day for market.
The quarterly results are reasonably good in India, especially cement companies. ACC, Ultra Tech, come with very sound numbers.
In normal market conditions market may open with a firm note and is expected to trade higher towards the resistance levels: volatility may remain very high
As I mentioned earlier the time frame required to move above 3500 levels is only 1 day. If Nifty fails to move above this tomorrow, then there can be selling. So tomorrow is a very crucial day for market.
