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Wednesday, May 25, 2011

NSE NIFTY Market View

It was a session of consolidation for the markets as theNIFTY spent yesterday’s session trading in a very narrow range. But, the index is still trading below its crucial support zones. Sustenance, below the 5400—5470 levels over the upcoming sessions of trade will mean that the NIFTY is still weak. The 5350 levels is the next near term support for the NIFTY on the downside. A break below the same will open
up downside targets of 5250—5170 levels in the NIFTY.
Upside resistances are placed between the 5450—5475 zones and the bears will infuse fresh supply pressure into the markets between these levels.

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