Thursday, June 2, 2011

#19 Nifty Update

NIFTY today opened almost 72 points down to 5521 as expected. People who got PUTS yesterday might have been partying tonight special those who got Put of SUNTV which was almost down by 30%. On the global market’s weakness NIFTY was showing some downtrend. SUNTV owners brother was mentioned in 2G scam which dragged down the stock almost 30% but later on after the market it was discovered that he isn’t involved and him together with Anil Ambani and TATA got a clean chit from CBI. Market is expected to have resistance at 200 DEMA 5615. Still strategy is buying on dips for long term.
NIFTY levels for 3rd June:-
R-5572                  S-5521
R-5612                  S-5492
R-5650                  S-5442
R-5700                  S-5400

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