Market Outlook: Nifty Levels for 05 JULY 2012

The market traded range bound all the way through the day and closed with moderate gains. Metal and realty stocks were the biggest gainers in today’s session and capital goods, power and banking, too, made significant gains.

The Bse Index closes at 17463 up 37 points or +0.21% & Nifty closes at 5303, up 15 points from the previous close or +0.28%. CNX Midcap index was up 0.5% % and the BSE Small cap index was up 0.9%. The market breadth was positive with advances at 936 against declines of 513 on the NSE.

Today also consolidation going on. The level 5311-5333 seems to be good Resistance

Last Close at 5303 up 15 points, Last High at 5317 Low at 5273, Weekly High at 5317 and low at 5095 and 5 DMA at 5259, 20 DMA at 5144, 50 DMA at 5050 and 200 DMA at 5079

5-Days Relative Strength Index at 86 and 14-Days Relative Strength Index at 69. It Indicates Nifty Placed in Over Bought Zone.

RESISTANCE: It has the First resistance close to the level 5311 & above the level marks the track point at 5333 later zooper level at 5355 mark.

SUPPORT:  It has the first support close to the level of 5288 & below this level mark next support is seen at 5266 later dipping level near 5244 mark.

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